Jefferies Starts Petrochina (PTR) at Buy
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Price: $46.85 --0%
Rating Summary:
10 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
10 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Jefferies initiates coverage on Petrochina (NYSE: PTR) with a Buy and RMB15.50 target.
The firm states, "We believe 2011 will be PetroChina's year with energy reform a key priority of the 12th 5 Year Plan. The market is embedding negative sentiment from years of price controls. A re-rating is warranted as the company controls the crown jewels of China's upstream assets and as government intervention in upstream energy markets fades away."
For more ratings news on Petrochina click here and for the rating history of Petrochina click here.
Shares of Petrochina closed at $133.78 yesterday.
The firm states, "We believe 2011 will be PetroChina's year with energy reform a key priority of the 12th 5 Year Plan. The market is embedding negative sentiment from years of price controls. A re-rating is warranted as the company controls the crown jewels of China's upstream assets and as government intervention in upstream energy markets fades away."
For more ratings news on Petrochina click here and for the rating history of Petrochina click here.
Shares of Petrochina closed at $133.78 yesterday.
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