Citi raises target price on Weichai Power, bullish on its strong demand support.

Citigroup has raised Weichai Power's target stock price from HK$16.3 to HK$21.3, citing strong performance in electricity demand for artificial intelligence data centers. Analysts, including Jeff Chung, wrote in a report, "If Weichai Power announces more details about its strategic partnership with Ceres Power Holdings in solid oxide fuel cell projects, this could significantly boost the company's valuation and long-term profit expectations." The firm maintains a "neutral" rating on Weichai Power. In addition, Citigroup has also raised Weichai Power's net profit expectations for 2025, 2026 and 2027 to RMB 12.4 billion, RMB 14.9 billion and RMB 17.8 billion respectively.