Salomon upgrades PetroChina target price to HK$1.9

Salomon Smith Barney lifted the target price of PetroChina (0857) by 8.57% from HK$1.75 to HK$1.9. The fund house predicted that its interim profit would jump 10-15% and the company would issue A-shares to raise funds which would be used for the productive projects including the west-east pipeline project. The stock latest stood at HK$1.61 and has a headroom of 18% from the target price.

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