JPM Raises WEICHAI POWER TP to HKD52, Transformation Reaches Measurable Milestone
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JPMorgan has raised the target price (TP) for WEICHAI POWERfrom HKD40 to HKD52, maintaining an Overweight rating. The A-share TP is lifted from RMB38 to RMB49. The firm notes that the company's transformation has reached measurable milestones, with margin expansion as a key driver. Despite a year-to-date surge in shares, they still lag behind peers in the artificial intelligence data center sector, indicating potential for further valuation re-rating. The new TP suggests a forecast PE of about 25x, reflecting the company's growth and improved margins.
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