China Yuchai: Turning Bullish On Buyback Plan And Improved Outlook (Rating Upgrade)

Asia-Pacific Images Studio/E+ via Getty ImagesElevator Pitch My investment rating for China Yuchai International Limited (NYSE:CYD) has been revised from a Hold to a Buy. Previously, I touched on a wide range of factors influencing China Yuchai's future business and share price performance in my March 30, 2024 write-up. For the current update, I assess CYD's new buyback plan and the company's prospects. China Yuchai's potential shareholder yield has become more appealing following the initiation of a ne ...