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<Research>HSBC Research Cuts SINOPEC CORP's TP to $4.5, Rating Hold
Recommend 11 Positive 14 Negative 15 |
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SINOPEC CORP (00386.HK)'s 2024 net profit fell by 16% YoY to RMB49 billion, suggesting that, as indicated by HSBC Global Research in its report, the company's 4Q24 net profit dropped by 22% YoY to RMB3.3 billion, missing expectations. In addition, SINOPEC CORP has declared a final dividend of RMB0.14 per share. Its full-year dividend reached RMB0.29 per share, down 17% YoY. HSBC Global Research lowered its 2025-26 earnings forecasts for SINOPEC CORP by 7% and 3%. It also cut its target price to $4.5 from $4.6 but kept the Hold rating unchanged. AAStocks Financial News |
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