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M Stanley Raises SINOPEC CORP Target to $8.33; Changing to High-yield Play Positive to Long-term Investors
Market was believed to start realizing SINOPEC CORP (00386.HK)  -0.040 (-0.577%)    Short selling $134.58M; Ratio 22.368%   will change to high-yield play in next few years after results announcement, which is a positive strategy to long-term investors, Morgan Stanley said in its report. A payout ratio of 75% in 2018 could imply a yield of 7.4%; while if the payout is lifted to 100%, the yield could touch 9.9%.

The oil stock was retained at Overweight with target price raised to $8.33 from $7.64.

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