7 Best Stocks for the Next 30 Days

Get them in a free Special Report, and get more Zacks Insights in our free e-newsletter, Profit from the Pros. Every issue includes a fresh Zacks #1 Bull Stock of the Day.

Close This Panel X

Are you a new Zacks Member or a visitor to Zacks.com?

Recent Quotes

No Recent Quote currently available

My Portfolio

My Portfolio Tracker

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts. Set yours up today.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Stocks on the Move 05/17/2013

Company Name Symbol %Change
VIASAT INC VSAT
19.35%
OLD SECOND B OSBC
5.76%
GAMCO INVEST GBL
4.61%
CORNING INC GLW
4.47%
SYNCHRONOSS SNCR
4.23%

PetroChina Co. Ltd. - ADS (PTR)

by Zacks Equity Research

November 12, 2012 | Comments : 0 Recommended this article: (0)
PTR

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Following PetroChina Co. Ltd.'s (PTR) dismal third quarter showing, we are downgrading the Chinese energy giant to Underperform from Neutral. The Beijing-based integrated outfit recently posted weak quarterly results on the back of a challenging operating environment and persistent refining losses.

We also remain concerned by PetroChina's oil production growth prospects, considering its heavy exposure to significantly mature-producing areas. Other near-term headwinds include high-priced gas imports amid low domestic gas sale prices, policy uncertainty and an ambitious investment program.

Considering these factors, we see PetroChina as a risky bet that investors should exit. These factors are reflected in our downgrade of PetroChina ADRs to Underperform from Neutral. Our $123 price objective reflects a multiple of 5.5X the trailing twelve-month cash flow.

Email Print Share Rate Pos Rate Neg

Read/Post Comments (0) | Recommended this article (0)

Please login to Zacks.com or register to post a comment.

Zacks Research is Reported On:

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.