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BofAS Trims HORIZONROBOT-W TP to HKD8.4, Lowers Revenue Forecasts
2026-09-02 11:46:21
Management of HORIZONROBOT-W (09660.HK) made forecast that full-year 2026 revenue will top RMB5 billion, implying that YoY growth in 2H26 will accelerate from 1H26 by more than 36%, BofA Securities said in a report. Management also forecast chip shipments to number 5 million units in 2026 and 7 million units in 2027, while reiterating the target of achieving breakeven by 2028.

However, in view of weaker-than-expected domestic passenger vehicle sales, the broker trimmed its 2026-28 revenue forecasts by 17-21%. Its TP was lowered from HKD11.9 to HKD8.4. The broker viewed HORIZONROBOT-W is gaining market share in the high-end autonomous driving solutions market. It maintained a Buy rating in light of its optimistic growth outlook.
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