M Stanley Expects WEICHAI POWER AIDC Business to Contribute Over 35% of Earnings by 2028; Raises TP to HKD47, Rating Overweight
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Morgan Stanley maintains a positive outlook on WEICHAI POWER's AIDC business, expecting it to contribute over 35% of earnings by 2028. The AIDC segment is projected to grow at a CAGR of 130% from 2026 to 2028, while the heavy-duty truck industry demand is expected to grow 5% YoY. Revenue forecasts for 2026-2028 have been raised, but gross margin forecasts for 2026 and 2027 have been lowered. The target price for WEICHAI POWER H shares has been increased from HKD32 to HKD47, with an Overweight rating.
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