Lyon: Expansion plan for autonomous taxi operations progressing steadily, first given "outperform market" rating to PONY-W (02026) and WERIDE-W (00800)
Horizon Robot Corporation - W (09660) needs a clearer development blueprint to support its long-term value and maintain its "outperform the market" rating.
Lyon released a research report, stating that the expansion plan of the mainland self-driving taxi operator fleet is steadily progressing, despite setbacks in domestic license issuance and temporary interruptions in the Middle East business. Lyon for the first time covered the H shares of PONY-W (02026) and WERIDE-W (00800), both giving them a "outperform" rating with target prices of 125 Hong Kong dollars and 29 Hong Kong dollars respectively. Both may be included in the Shanghai-Hong Kong Stock Connect on the 4th, welcoming new capital inflows. In addition, the bank stated that HORIZONROBOT-W (09660) needs a clearer development blueprint to support its long-term value, maintaining an "outperform" rating.
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