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Sinopec rises 2% UBS praises its good investment value

Source: Internet
Author: User
Keywords Hong Kong dollar refined oil Hang Seng index
Tags development development and reform commission higher higher than index market market expectations national development
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Echoing the National Development and Reform Commission in the month of the second increase in the price of oil products favorable; The main products downstream sales of Sinopec (00386-HK) this morning, the stock price is now up 1.69% to HK $6.01, 21.75 million shares.　　UBS commented that it would maintain the buying rating of the unit, with a target price of HK $7.2 for the classification plus total valuation method, which is 20% higher than the market premium. China Petrochemical was the main running stock in June (down 5%, while the Hang Seng index rose 1.1%) as the last (June 1) oil price hike was lower than market expectations, UBS pointed out. However, the unit still has good investment value, which is equivalent to 1.1 times times the net rate of the market, and shareholder returns of 13% to 15% in 2010 and 2011.

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