[ET Net News Agency, 30 August 2018] HSBC Global Research lowered its target price for
Weichai Power (02338) to HK$13.3 from HK$14.7, and maintained its "buy" rating.
The research house said Weichai Power's 1H sales and earnings were in line with its
expectations. Weichai achieved solid sales volumes in multiple segments, consolidating its
leading position in the market.
The company continued to generate strong cash flow from operations. HSBC thinks ample
cash flows could create more potential to diversify the product mix, and the company's
leading position in off-road segments could create potential risks to the upside in 2H.
HSBC slightly revised its earnings estimates based on its latest EUR/RMB forecasts of
7.57 for 2018 and 7.35 for 2019. Hence, itrevised its EPS estimates up by 1.1% for 2018
and down by 1.0% for 2020. (KL)
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02338 WEICHAI POWER
Nominal 
16.400 0.000 (0.000%) Others
30/08/2018 09:36
[I-bank focus]HSBC lowers Weichai Power (02338) to HK$13.3
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