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Citi Issues Buy Rating on Sinotruk with HK$55 Price Target

Deep News
Yesterday

Citi has released a research report stating that, based on tracking data for Chinese automakers, the share price discount of Weichai Power Co., Ltd. (HK: 02338) relative to the bank's AIDC/SOFC/AI weighted index has widened to a record 35%, matching the widest level seen in June and expanding further from 28% a week earlier, reflecting relatively attractive short-term risk-reward and suggesting a potential catalyst from overseas AIDC gas engine shipments set to begin this month.

The bank has given a "Buy" rating to Sinotruk (Hong Kong) Limited (HK: 03808) with a target price of HK$55.

In addition, Citi has also assigned "Buy" ratings to Caterpillar Inc. (NYSE: CAT) and Cummins Inc. (NYSE: CMI), with target prices of US$1,100 and US$790, respectively.

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