CLSA Initiates Coverage on Autonomous Taxi Operators, Assigns 'Outperform' Ratings to PONY-W and WERIDE-W

Stock News06-02 16:27

CLSA has issued a research report stating that mainland China's autonomous taxi operators are steadily advancing their fleet expansion plans, despite recent setbacks in domestic licensing and temporary disruptions to operations in the Middle East region.

The brokerage has initiated coverage on the H-shares of PONY-W (ASX: 02026) and WERIDE-W (ASX: 00800), assigning both an 'Outperform' rating. The firm has set price targets of HK$125 for PONY-W and HK$29 for WERIDE-W.

Both companies are potential candidates for inclusion in the Stock Connect programs between the mainland and Hong Kong markets, which could occur as soon as April 4th, potentially leading to fresh capital inflows.

Furthermore, CLSA noted that HORIZONROBOT-W (ASX: 09660) requires a more clearly defined development roadmap to support its long-term value. The firm has maintained its 'Outperform' rating on the stock.

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