Deutsche Bank Goes Long on Integrated Chinese Oil Stocks (PTR, SHI)

Deutsche Bank recently took a much more bullish stance on integrated oil stocks in China, making positive comments about both PetroChina (NYSE: PTR) and Sinopec (NYSE: SHI). The firm said it is taking a more upbeat approach to these stocks as it expects strong growth in each company's exploration and production (E&P) segments.

The firm released a research report on January 30 citing several reasons why investors should use PetroChina's recent pullback in stock price to begin or add to an investment. PetroChina's stock price has fallen about 48% since mid-October when it marked a 52-week high at $266.

Deutsche recognizes that prospects for both PetroChina and Sinopec's chemical and refining divisions are beginning to look less promising, but points out that each of these segments are not large enough to alter the firm's overall positive view on each company.

Here is StreetInsider's summary of the Deutsche Bank upgrade on Sinopec.

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Deere (DE) PT Raised to $585 at JPMorgan
• Benchmark Reiterates Buy Rating on NVIDIA (NVDA), Updates Estimates