Daiwa Downgrades WEICHAI POWER to Outperform, Raises TP to HKD50
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Daiwa has downgraded WEICHAI POWERfrom Buy to Outperform, citing valuation concerns despite strong earnings in its power supply business. The firm raised the target price from HKD40 to HKD50, forecasting a 14% to 24% YoY net profit growth for 2027-2028, driven by demand from AI data centers. However, potential short-term pressures on its LNG heavy truck business due to geopolitical factors influenced the downgrade. Short selling data indicates a ratio of 15.504%.
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