BEIJING (XFN) – Standard & Poor’s Equity Research said it is downgrading its recommendation for the stock of PetroChina Co Ltd (HK 0857; NYSE PTR) to “hold” from “accumulate”, as upside for S&P’s fair value-based price target of HK$1.76 is only a modest 6.5% following the oil company’s recent share price strength and the discounting…

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