Stock Track | Weichai Power Soars 5.01% in Early Trading on Goldman Sachs SOFC Valuation Call and Strong Business Growth

Stock Track04-23

Weichai Power's stock price surged 5.01% during the early intraday session on Thursday, following positive analyst coverage and robust operational updates.

The rally was fueled by a recent Goldman Sachs research report which highlighted that the company's Solid Oxide Fuel Cell (SOFC) business could trigger a significant valuation re-rating. Goldman Sachs assigned a Buy rating and positioned Weichai Power as one of the best SOFC investment targets in Asia. Furthermore, CITIC Securities maintained its Buy rating on the stock with a target price of HK$38.00.

Supporting the bullish sentiment were strong performance figures from the company's emerging business segments. Data center engine sales skyrocketed approximately 259% year-over-year, while large-bore engine sales exceeded 10,000 units for the first time, marking a 32% increase. The company is also accelerating its global footprint through its US subsidiary PSI, successfully entering the North American data center supply chain amid the ongoing AI infrastructure build-out.

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