Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>BOCI Cuts SINOPEC CORP's TP to $4.58; 2024 Earnings Miss, But Div. Yield Still Decent
Recommend 10 Positive 16 Negative 13 |
||||
|
||||
|
Jeopardized by impairments, SINOPEC CORP (00386.HK)'s 2024 earnings were 15% below the broker's forecast, said BOCI in its report. In BOCI's estimate, SINOPEC CORP's earnings will remain flat in 2025 if there are no further impairments, and a recovery in refining margins will make up much of the shortfall in exploration and production earnings due to oil price reduction. Although BOCI cut its 2025-26 earnings forecasts for SINOPEC CORP by 10%/ 11%, the broker still believed that the company's H-shares would offer a decent dividend yield, assuming that it will maintain a 70% payout ratio. BOCI reiterated a Buy rating on SINOPEC CORP but lowered its price target to $4.58 from $4.9. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
