(Bloomberg) -- China Petroleum & Chemical Corp.,
Asia's largest refiner, had its stock rating cut by Bear Stearns
& Co. because higher international oil prices may hurt earnings
at the company's refining business.
Shares of Sinopec, as the Beijing-based company is known,
were downgraded to ``underperform'' from ``peer perform,'' Hong
Kong-based Bear Stearns analysts Adam Clarke, Martin Foot, Hino
Lam and Jerry Ho wrote in a research note yesterday. The target
price was increased to HK$7.51 from HK$6.79.
Read more at Bloomberg Energy News
Asia's largest refiner, had its stock rating cut by Bear Stearns
& Co. because higher international oil prices may hurt earnings
at the company's refining business.
Shares of Sinopec, as the Beijing-based company is known,
were downgraded to ``underperform'' from ``peer perform,'' Hong
Kong-based Bear Stearns analysts Adam Clarke, Martin Foot, Hino
Lam and Jerry Ho wrote in a research note yesterday. The target
price was increased to HK$7.51 from HK$6.79.
Read more at Bloomberg Energy News
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