May 18, 2021 01:52 PM (GMT+8) · EqualOcean
UBS issued a research report to maintain the "buy" rating of Sinopec (00386), with the target price rising from HK $4.7 to HK $4.9. The bank predicts that the company's exploration and mining and chemical business will lead the profit upgrade, and it is expected to achieve the best profit performance since 2013 this year. Although the company's share price has outperformed the market since the beginning of the year, it has yet to capture the potential strong growth. UBS raised its forecast of earnings per share from this year to 2023 by 29% / 21% / 13% respectively. The latest forecast is that the earnings of this year will improve by 87% year on year.

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