Stock Track | WeRide Inc. Surges 6.76% in Pre-Market on Bullish Analyst Coverage and Industry Tailwinds

Stock Track11-19 22:16

WeRide Inc. (NASDAQ: WRD), a leading autonomous driving technology company, saw its stock soar 6.76% in pre-market trading on Tuesday, November 19. The surge came after several analysts initiated coverage on the stock with bullish ratings and price targets, citing the company's strong position in the rapidly growing autonomous driving industry.

WeRide, a pure-play in the global Level 4 (L4) and above autonomous driving market, received an "Overweight" rating from Morgan Stanley with a $23 price target. Analysts highlighted WeRide's technological edge, early-mover advantage, and broad use cases across mobility, logistics, and urban cleaning services as key strengths.

Another analyst firm, RBC Capital, initiated coverage with a "Buy" rating, noting WeRide's significant order backlog for 10,000 purpose-built L4 autonomous vehicles. The firm cited the company's strategic positioning and partnerships with automakers as factors supporting its growth prospects in the nascent but rapidly expanding autonomous driving sector.

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Surges 6.76% in Pre-Market on Bullish Analyst Coverage and Industry Tailwinds\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-19 22:16 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>WeRide Inc. (NASDAQ: WRD), a leading autonomous driving technology company, saw its stock soar 6.76% in pre-market trading on Tuesday, November 19. 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