Citi: Gives Weichai Power (02338) a "Buy" rating with a target price of HK$50.

Citi issued a research report stating that Generac (GNRC.US) has entered into a long-term supply agreement with Amazon.com, Inc. to provide backup generators for Amazon.com, Inc.'s data centers; the bank rates Weichai Power (02338) as "Buy" with a target price of HK$50. The report noted that initial deliveries are expected to total US$2.4 billion for 2027 to 2028 combined. The bank views this as a positive read-through for Weichai Power, as Weichai is a core supplier to GNRC and is poised to benefit from continued backlog growth. It estimates that the related potential shipments in 2027/28 will contribute US$478 million to US$1.075 billion in revenue.