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<Research>JPM Views WEICHAI POWER as Next Yr's Industry Top Pick w/ Re-Rating Potential
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JPMorgan has released a research report naming WEICHAI POWER (02338.HK) as one of its top picks in the industrial sector for 2026. The report highlighted that investors were once concerned that the retirement of WEICHAI POWER's founder and former chairman Tan Xuguang announced in August 2024 would lead to a strategic decoupling between SINOTRUK (03808.HK) and WEICHAI POWER. However, the appointment of former executive Wang Zhijian as chairman of Shandong Heavy, the parent of both SINOTRUK and WEICHAI POWER, at the end of last month is expected to mitigate the risks of strategic continuity between leadership and enterprises. JPMorgan also mentioned China's robust demand for heavy trucks in November, confirming that this year's demand is more concentrated in 2H. Optimistic about a spike in sales of liquefied natural gas (LNG) trucks and WEICHAI POWER's leading position in the LNG heavy truck engine market, the broker believes WEICHAI POWER has re-rating potential. WEICHAI POWER's rating was kept as Overweight, with a target price of HKD31. AAStocks Financial News |
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