中银国际：升中国石油股份目标价至8.83港元 第三季度盈利超预期

Core Viewpoint - China Petroleum & Chemical Corporation (00857) reported a 14% quarter-on-quarter increase in profit for Q3, reaching 42.3 billion RMB, which is 7% higher than the forecast by CICC [1] Group 1: Financial Performance - The significant profit growth was primarily driven by the natural gas sales business, which exceeded expectations [1] - CICC anticipates a 29% quarter-on-quarter decrease in profits for Q4 due to falling oil prices and increased costs [1] Group 2: Future Outlook - CICC has raised its profit forecasts for China Petroleum for the years 2025 to 2027 by 2% [1] - The firm reiterated a "Buy" rating for China Petroleum and increased the target price from 8.59 HKD to 8.83 HKD [1]