The target price for Damo to Sinopec is HK$4.27, and the rating is “in sync with the market”.
The Zhitong Finance App learned that Morgan Stanley released a research report saying that there is a 70% to 80% chance that the stock price of China Petroleum & Chemical (00386) will rise within the next 15 days. The bank pointed out that oil prices have been weak recently, and stock prices may rebound after the sell-off, due to concerns that the war in the Middle East will disrupt energy supply. The target price for Damo to Sinopec is HK$4.27, and the rating is “in sync with the market”.
