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<Research> Daiwa Downgrades WEICHAI POWER (02338.HK) to Outperform, Raises TP to HKD50
Daiwa issued a report stating that WEICHAI POWER (02338.HK) has updated its forecasts to reflect the strong earnings performance of its power supply business in 1Q26. While the bro...
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<Research> Daiwa Downgrades WEICHAI POWER (02338.HK) to Outperform, Raises TP to HKD50
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Daiwa issued a report stating that WEICHAI POWER (02338.HK)  +0.120 (+0.290%)    Short selling $87.69M; Ratio 9.243%   has updated its forecasts to reflect the strong earnings performance of its power supply business in 1Q26. While the broker remains optimistic about WEICHAI POWERs long-term growth potential driven by robust demand from AI data centers, it downgraded the rating based on valuation considerations.

The brokers latest forecasts show that net profit is expected to grow YoY by 14% to 24% in 2027 to 2028, compared with the previous estimate of 6% to 14%, mainly benefiting from strong AI data center demand. However, taking into account valuation factors and the potential short-term pressure on its LNG heavy truck business if the Middle East war ends, Daiwa downgraded the rating from Buy to Outperform. The H-share TP was raised from HKD40 to HKD50. (ha/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-15 16:25.)

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