UBS: Initially Gives Sotung Group (02498.HK) "Buy" Rating, Target Price of 47.8 Hong Kong Dollars

Zhitong Financial APP has learned that UBS has released a research report stating that they have initiated a "buy" rating for Suteng Juchuang (02498.HK) with a target price of 47.8 Hong Kong dollars. The bank pointed out that with clients such as BYD (01211.HK) and Geely Auto (00175) becoming more willing to adopt laser radar in their Original Equipment Manufacturer (OEM) production, they hold an optimistic view on the long-term prospects of Suteng Juchuang's advanced driver assistance system (ADAS) laser radar business. The company is also strengthening its presence in the field of robot laser radar, which they believe may become a new driver of growth.