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<Research>JPM: Construction Machinery & Heavy Trucks 2025 Outlook More Optimistic; Top Picks WEICHAI POWER/ SINOTRUK/ JSHL
Recommend 5 Positive 8 Negative 3 |
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JPMorgan released a research report believing that construction machinery and heavy trucks are seeing growth this year with a more optimistic outlook amid stimulus policies and replacement cycles in China. The broker re-adjusted its investment rankings based on current market dynamics. Among China's construction machinery and heavy truck sectors it covers, JPMorgan's top picks are WEICHAI POWER (02338.HK) and SINOTRUK (03808.HK), thanks to their strong position in heavy truck field and the impact of China's trade-in policy. Moreover, JPMorgan also preferred JSHL(601100.SH), benefiting from a strong rebound in domestic excavator sales and a potential breakthrough in factory automation sector, seeing it as a key player in China's humanoid robot market. The broker was also bullish on SANY HEAVY INDUS(600031.SH)'s diversified machinery product portfolio. Conversely, JPMorgan kept rating at Underweight on DINGLI MACHINERY(603338.SH) due to continued sluggish end-demand and the potential challenges posed by upcoming US tariffs. JPMorgan's ratings and target prices for construction machinery and heavy trucks are listed below: Stock | Rating | TP (HKD) WEICHAI POWER (02338.HK) | Overweight | 19 SINOTRUK (03808.HK) | Overweight | 26 CIMC ENRIC (03899.HK) | Overweight | 8 AAStocks Financial News |
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