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<Research>CMBI Drops HORIZONROBOT-W (09660.HK) TP to $10 on High Growth Potential/ Unique Positioning
Recommend 6 Positive 7 Negative 5 |
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HORIZONROBOT-W (09660.HK) has high growth potential and a unique positioning, CMBI released a research report saying. Following the launch of the HSD solution, its management raised the guidance for the CAGR of revenue over the next few years from 50% to 60%. The broker believed that HORIZONROBOT-W, with its increasing market share in the urban NOA solution, upcoming cabin-driving fusion solutions, pilot operation of robotaxis, and collaboration with global tier-1 suppliers to expand overseas markets, possesses unique value and should enjoy a valuation premium. The Company planned to launch the Agentic CAR cabin-driving fusion system chip this year, with mass production expected by the end of 2026, coinciding with the launch of Qualcomm (QCOM.US)'s SA8797, indicating competitiveness. HORIZONROBOT-W also planned to start pilot operations of robotaxis with ecosystem partners in 3Q26, showcasing comprehensive autonomous driving capabilities. Therefore, CMBI dropped its target price from $12.3 to $10, based on a projected 13x PS ratio for 2027, similar to Nvidia (NVDA.US)'s valuation level, with rating kept at Buy. AAStocks Financial News Website: www.aastocks.com |
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