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<Research> CLSA Initiates PONY-W (02026.HK) and WERIDE-W (00800.HK) at Outperform; Cuts HORIZONROBOT-W (09660.HK) TP to HKD9
Recommend 29 Positive 47 Negative 39 |
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CLSA issued a report noting that fleet expansion plans of autonomous taxi operators in Mainland China are progressing steadily, despite setbacks in domestic licensing and temporary disruptions to operations in the Middle East. The broker lowered its US TP for Pony AI Inc. (PONY.US) from USD20 to USD16, while maintaining the US TP for WeRide Inc. (WRD.US) at USD11. CLSA also initiated coverage on the H shares of PONY-W (02026.HK) and WERIDE-W (00800.HK), assigning both an Outperform rating with TPs of HKD125 and HKD29, respectively. Both stocks may be included in the Shanghai-Shenzhen-Hong Kong Stock Connect on June 4, potentially attracting new capital inflows. In addition, the broker said HORIZONROBOT-W (09660.HK) requires a clearer development roadmap to support its long-term value. Amid declining auto sales and market concerns over the total addressable market (TAM) accessible to third-party autonomous driving suppliers, CLSA lowered its TP for the company from HKD11 to HKD9, while maintaining an Outperform rating.(da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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