Furui: Raising Weichai Power (02338.HK) target price to HK$23.7, maintains "buy" rating.

According to the Smart Financial News APP, Furu released a research report stating that the average selling price of Weichai Power (02338.HK) large bore diameter engines in the first three quarters has exceeded 500,000 yuan, an increase from about 400,000 yuan in 2024, mainly driven by data center products. In addition, the solid oxide fuel cell (SOFC) production line is under construction, with a moderate initial investment scale, but the company has not disclosed specific production capacity details. At the same time, the company maintains its target of shipping 1,000 to 1,200 data center related products in 2025 and expects to achieve the upper limit of the target. The bank has slightly adjusted its profit forecast for 2025 and 2026 to 12.3 billion and 14 billion yuan respectively. The target price for Hong Kong stocks has been raised from 18.8 Hong Kong dollars to 23.7 Hong Kong dollars, and the target price for A shares (000338.SZ) has been raised from 18.3 yuan to 22 yuan, both maintaining a "buy" rating.