Yamato: Weichai Power's increased visibility in expanding its global market share has led to an upward revision of the target price to 40 Hong Kong dollars.

Yamato released a report stating that since the end of 2025, Weichai Power has consistently been the top pick for the bank due to its wide-ranging capabilities to meet AIDC power demand. The bank now sees increased visibility of Weichai grabbing market share in the global power generation market and expects Weichai to further reassess its potential as a key beneficiary of strong AIDC demand in the coming years. The bank has slightly raised Weichai Power's forecasted revenue for 2026 to 2027 by 1%, reiterating a "buy" rating and raising the target price from 24 Hong Kong dollars to 40 Hong Kong dollars, based on a higher target enterprise value multiple of 12 times for its engine business and unchanged target P/E ratio of 9 times for its automotive parts and agricultural equipment business.