Citi's analyst rating for MAN WAH HLDGS is based on the company's reported net profit for FY2026, which fell short of market expectations by 15% and broker expectations by 12%. The management's cautious outlook on gross margins for FY2027, due to rising raw material costs driven by higher oil prices, has led Citi to lower its earnings forecasts for FY2027 and FY2028 by 21% to 27%. Despite these concerns, Citi maintains a Buy rating, citing the current valuation as attractive.
