Huatai Securities maintained a Buy rating on WeRide Inc. (NASDAQ:WRD) with a price target of HK$52 on January 10. Earlier, on December 1, Bank of America Securities initiated coverage on the stock with a Buy rating and a price target of $12.
Bank of America Securities described the company as a growing Level 4 autonomous service provider internationally. The firm noted significant growth potential for WeRide in new and emerging markets.
Bank of America expects the company to increase its fleet size and achieve profitability by 2029. This outlook is based on the company's efforts to expand robotaxi services overseas through partnerships. WeRide holds a significant first-mover advantage in the autonomous vehicle space.
The firm also anticipates improved profitability in China, driven by better economies of scale. WeRide is expected to leverage its unified technology platform to expand into robobuses, robosweepers, and robowans in China.
WeRide Inc. is an investment holding company that provides autonomous driving products and solutions for mobility, logistics, and sanitation industries in the People's Republic of China.