PETROCHINA(601857):RAISING TARGET PRICE AFTER REVERSE ROADSHOW
机构:中银国际 研究员:Lawrence LAU/Rainey DAI PetroChina's reverse roadshow in Sichuan-Chongqing area revealedthe huge potential to boost natural gas output of the area and the plansof downstream gas utilisation. The growing contribution of its gasvalue-chain operations will increase the resilience of its earnings amidlikely decline in oil price ahead. We reiterate our BUY calls on thecompany and raise our target price for its H shares to HK$9.62. Key Findings PetroChina Southwest Oil & Gas Field (SWOGF) is an import ...