Goldman lifts Sinopec targets to HK$4.50 and RMB 6.00 for China Petroleum & Chemical stock

Published on 10/19/2026 at 09:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman lifts Sinopec targets to HK$4.50 and RMB 6.00 on October 16. China Petroleum & Chemical stock was EUR 0.51 on October 19, 2026.

Analyst view and reporting date

Goldman Sachs set Sinopec targets of HK$4.50 and RMB 6.00 on October 16, 2026.
Second-quarter 2026 revenue rose 8.30 percent to CNY 729.90 billion.
China Petroleum & Chemical stock traded at EUR 0.51 at 9:09 a.m. CEST on October 19, 2026.

Chalco, CNE1000002Q2, Illustration mit AI erstellt.

China Petroleum & Chemical (ISIN CNE1000002Q2) received higher targets of HK$4.50 for its H shares and RMB 6.00 for its A shares from Goldman Sachs on October 16, 2026, while the bank kept a Neutral rating, according to Futu. The review puts refining margins at the center of the stock story.

Targets rise as margins stay under pressure

The Goldman Sachs note raised the Sinopec targets by applying a 3.9 times enterprise-value-to-EBITDA multiple, up from 3.7 times, while retaining the Neutral view. The report said refining-margin pressure could persist during the second half of 2026, even as utilization and downstream demand supported a moderate sequential improvement in third-quarter earnings.

Second-quarter 2026 revenue reached CNY 729.90 billion, an 8.30 percent increase from the year-earlier quarter, while net income fell 9.70 percent to CNY 8.83 billion and earnings per share declined to CNY 0.073 from CNY 0.081, according to Simply Wall St. The combination shows why higher revenue has not translated directly into higher profit.

Three dated developments shape the story

On October 7, 2026, Sinopec took a 30 percent stake in Brazil's Jade offshore block alongside CNOOC, according to EFE. On October 14, 2026, a company announcement covered a HK$4.50 analyst target and a Neutral rating, as reported by TipRanks. The October 16, 2026 Goldman Sachs update then set the HK$4.50 and RMB 6.00 targets.

What dates matter next?

The board is scheduled to review third-quarter 2026 results on October 29, 2026, according to TipRanks. Barron's lists March 19, 2027, for fiscal-year 2026 earnings, giving investors a later reporting date to track.

Stock indication before the results

The share's immediate valuation debate therefore rests on the gap between higher sales and weaker quarterly profit, alongside the refining-margin risk highlighted by Goldman Sachs.

China Petroleum & Chemical was trading at EUR 0.51 at Lang & Schwarz on October 19, 2026 at 9:09 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of China Petroleum & Chemical stock.