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Opinions Mark Grammer
Sinopec386HKPAST TOP PICKMar 04, 2010
(Top Pick Oct 7/09, Down 9.78%) Still Likes it.
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Sinopec. Hong Kong exchange. Integrated oil company in Hong Kong but focused on downstream of refining and retail. China has a rapid growth in automobile sales. The issue has been government controls on refining margins and gasoline prices but is becoming less of an issue. Expecting margins to go up from $7 to $8 this year. 2.7% yield.
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