China Yuchai downgraded to Hold from Buy at Greenridge

Greenridge analyst William Gregozeski downgraded China Yuchai (CYD) to Hold from Buy with a price target of $22, up from $15. Last week, China Yuchai announced it entered into a deal with Kim Long Motor Hue, a subsidiary of Vietnam’s FUTA Group, and the firm increased revenue estimates for 2025, which it says drives its increased target coupled with the lower share count after the buyback. However, the stock has run significantly since the Kim Long announcement, beyond what the firm sees as a fair valuation, the analyst tells investors.