Horizon Robotics May Benefit From Potential U.S. Restrictions on High-End Chips -- Market Talk

Dow Jones11-26

0300 GMT - Horizon Robotics appears an attractive bet in the field of advanced driver assistance systems, Daiwa analysts write in a note. With rising concerns that the U.S. may restrict exports of high-end advanced driving chips to China, many Chinese automakers are searching for substitutes, they say. Horizon Robotics is a favorite in terms of delivery volume of ADAS chips among Chinese peers, Daiwa says. The brokerage forecasts that ADAS will be adopted in around 80% of new cars in China by 2026 and the company may see stronger revenue in the next few years. Daiwa initiates coverage on the stock with a buy rating and a target price of HK$5.8. Shares last at HK$4.43. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

November 25, 2024 22:00 ET (03:00 GMT)

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