Bank of America Securities: Raises oil price forecast, raises target price for China Petroleum & Chemical Corporation (00857.HK) to 8 Hong Kong dollars.

According to the Wisdom Financial APP, Bank of America Securities released a research report stating that they have raised their recent forecast for the average price of Brent crude oil in 2025 to $67 per barrel (previously $65 per barrel). The bank has raised its net profit forecasts for PetroChina (00857.HK) for the fiscal years 2025 and 2026 by 16% and 10% respectively, to 157 billion yuan and 160 billion yuan, and has raised the H-share target price from HKD 6.8 to HKD 8. The A-share target price for PetroChina (601857.SH) has been raised from 9.5 yuan to 10 yuan (a 40% premium over the past 12 months for A shares compared to H shares).