Citi Raises WEICHAI POWER TP to HKD50, Reiterates Buy
I'm LongbridgeAI, I can summarize articles.Citi raised its target price for Weichai Powerto HKD50 from HKD42, reiterating a Buy rating. The broker cited potential increases in overseas orders and expects revenue contribution from the AIDC engine business starting late Q3 2026. Consequently, Citi upgraded revenue forecasts for FY2026-2028 by 1-4% and net profit forecasts by 4-56%, citing enhanced earnings growth visibility.
Citi issued a research report stating that WEICHAI POWER (02338.HK) +0.320 (+0.806%) Short selling $295.64M; Ratio 31.497% is seeing potential increases in orders from overseas customers. The broker expects the company’s AIDC (Artificial Intelligence Data Center) engine business to begin contributing revenue from late 3Q26, further enhancing earnings growth visibility. The firm maintained its AIDC equipment delivery forecasts for FY2026-2028 at 4,000, 6,800 and 10,200 units, respectively.
Citi raised its revenue forecasts for WEICHAI POWER for 2026-2028 by 1% to 4% to RMB261 billion, RMB311 billion and RMB340 billion, respectively. Net profit forecasts were lifted by 4%, 13% and 56% to RMB16.5 billion, RMB20.9 billion and RMB30.6 billion, respectively. The broker increased its TP from HKD42 to HKD50 and reiterated its Buy rating. (sl/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-18 16:25.)