not vested
PETROCHINA(857)
Analysis:
It is estimated that the net profit attributable to equity holders for 2018 will increase by an amount between RMB28bn and RMB30bn, representing a yoy increase between 123% and 132%.
The estimated profit growth is primarily due to the combined impact of the hiking prices of crude oil, natural gas and other main products, making provisions for asset impairment in accordance with the new accounting standards and incurring additional losses in the disposal of non-current assets.
Crude oil price is likely to remain stable or even climb given regional political conflicts may result in oil production cut in short term, which is positive for the company business.
Strategy:
Buy-in Price: $5.03, Target Price: $6.00, Cut Loss Price: $4.50
Source: Phillips