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Weichai Power Shares Seem Undervalued After Correction -- Market Talk

Dow Jones Newswires ·  2021/11/02 23:02

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)

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