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-大和資本表示，濰柴動力的股票似乎被低估了，因為它保持了買入呼籲。大和表示：“股價從今年2月的最高點回調了47%，接近2020年初的‘新冠肺炎低點’，我們認為該股目前處於超賣狀態。”然而，這家日本銀行將目標價從26.70港元下調至19.10港元，此前該行下調了對這家柴油發動機製造商2021-2023年每股收益的預期，原因是工業需求自第三季度以來大幅下降。該公司股價漲0.8%，報13.38港元。(justina.lee@wsj.com)