STOCKS | Daiwa Upgrades Sinotruk To Buy, Raises Target Price To HK$49.2

Daiwa upgraded Sinotruk (03808) to Buy from Outperform and lifted its target price to HK$49.2 from HK$29.4, citing strong overseas demand and expectations that the company can keep gaining market share from 2026 to 2028. The broker also raised its 2026 to 2027 revenue forecasts by 17% to 20%. It said management guided for domestic heavy-duty truck sales of 800,000 to 850,000 units this year and overseas sales of more than 400,000 units, while next year domestic sales are expected to be flat and overseas demand to keep growing steadily, according to ETNet.