Goldman Sachs Maintains Buy Rating on Horizon Robotics, Hikes Price Target to HK$13.14

Deep News07-28

Goldman Sachs has released a research report, stating that after incorporating Horizon Robotics-W (HKEX: 09660)'s latest guidance, the bank has raised its fiscal year 2026 net profit forecast for the company to RMB 1.7 billion.

Goldman Sachs maintains its price target of HK$13.14 and a "Buy" rating on the stock. The investment bank expects Horizon Robotics-W to achieve a 25% to 35% year-on-year increase in first-half revenue, outperforming the overall performance of the Chinese auto market.

Net profit for the period is anticipated to be between RMB 3.5 billion and RMB 4.0 billion. The bank points out that the difference between profit and revenue growth is primarily due to fair value changes from convertible loans issued to CARIAD, which fluctuate with the company's share price.

Additionally, Goldman Sachs noted that a new version of Horizon Robotics-W's Horizon SuperDrive (HSD) has been applied to Chery's iCAR V27 vehicle model.

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