Bank of America: Cut PetroChina's target price to HK$11, maintain "buy" rating.

Bank of America Securities released a report stating that it lowered profit forecasts for PetroChina for the fiscal years 2026/2027 by 8% to reflect the latest assumptions of Brent crude oil prices of $77 per barrel for the second half of 2026 and $70 per barrel for all of 2027. The target price was lowered from 12 Hong Kong dollars to 11 Hong Kong dollars, while maintaining a "buy" rating.