Citi: Maintains Weichai Power (02338.HK) "Buy" rating and HK$50 target price; Q3 core net profit in line with expectations

Citi released a research report maintaining a "Buy" rating and HK$50 target price on Weichai Power (02338.HK). The company achieved revenue of RMB 58 billion in the third quarter, up 1% year-on-year and down 4% quarter-on-quarter, 2% above market expectations; core net profit (excluding one-off items) was RMB 3.22 billion, up 14% year-on-year and 3% quarter-on-quarter, broadly in line with expectations.