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Fly News Breaks for May 14, 2019
PTR
May 14, 2019 | 13:11 EDT
As previously reported, Goldman Sachs analyst Mark Wiseman upgraded PetroChina to Buy from Neutral as he believes the upstream business is gaining momentum and is being supported by more beneficial government policy. Responding to the call from the government, the company is investing to deliver 1% oil production CAGR through 2025 and 5-6% gas growth to 2025, noted Wiseman, who said the stock has become his "preferred China big oil exposure." The analyst has a $73.97 price target on PetroChina ADRs.
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