Weichai Power Shares Seem Undervalued After Correction -- Market Talk
Weichai Power Shares Seem Undervalued After Correction -- Market Talk
0254 GMT - Weichai Power's shares appear undervalued, Daiwa Capital says, as it maintains its buy call. "Following the 47% share-price correction from the latest high in February this year to close to the "Covid-19 low" in early 2020, we believe the shares are currently oversold," Daiwa says. The Japanese bank, however, cuts its target price to HK$19.10 from HK$26.70 after lowering its forecasts for the diesel-engine maker's 2021-2023 EPS due to a sharp decline in industrial demand since 3Q. Shares are 0.8% higher at HK$13.38. (justina.lee@wsj.com)
0254GMT-大和资本表示，潍柴动力的股票似乎被低估了，因为它保持了买入呼吁。大和表示：“股价从今年2月的最高点回调了47%，接近2020年初的‘新冠肺炎低点’，我们认为该股目前处于超卖状态。”然而，这家日本银行将目标价从26.70港元下调至19.10港元，此前该行下调了对这家柴油发动机制造商2021-2023年每股收益的预期，原因是工业需求自第三季度以来大幅下降。该公司股价涨0.8%，报13.38港元。(justina.lee@wsj.com)