[ET Net News Agency, 2 September 2019] Credit Suisse lifted its target price for
Weichai Power (02338) to HK$12.3 from HK$11.9 and maintained its "neutral" rating.
The research house said Weichai's 20% earnings growth in 1H was driven by 9%/4% sales
volume growth of engine/heavy duty truck (HDT) operations in China, and 46% earnings
growth contribution from KION (a 45% owned subsidiary) thanks to its Supply Chain
Solutions segment's 15.5% revenue growth.
Credit Suisse expects HDT sector sales to start to decline from September given natural
gas HDT demand was front-loaded to 1H, weak infrastructure investment, and a high base.
Considering the higher-than-expected KION earnings contribution in 1H, Credit Suisse
slightly revised up its 2019 earnings estimate by 3% with a higher margin assumption. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02338 WEICHAI POWER
Nominal 
16.400 -0.140 (-0.846%) Others
02/09/2019 14:51
{I-bank focus}CS lifts Weichai Power (02338) to HK$12.3
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