星展：升中国石油股份目标价至8.8港元 第三季业绩略胜预期

Core Viewpoint - DBS reported that China Petroleum & Chemical Corporation (00857) slightly exceeded expectations in Q3 performance, with a year-on-year profit decline of only 3.9% despite a 15% drop in oil prices [1] Group 1: Company Performance - The company's business model demonstrates resilience, making it a preferred stock in the industry [1] - The target price for China Petroleum has been raised from HKD 8.02 to HKD 8.8 [1] - The company is expected to maintain stable profits supported by a healthy oil price level of USD 65 per barrel and a recovery in downstream operations [1] Group 2: Dividend Outlook - The estimated dividend yield for the next two years is projected to be 6% [1]