CLSA Initiates Coverage on PONY-W and WERIDE-W with "Outperform" Ratings

Deep News
06/03

CLSA has released a research report stating that the fleet expansion plans for mainland autonomous taxi operators are progressing steadily, despite some turbulence in domestic licensing and temporary setbacks in Middle Eastern operations.

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

Both companies are potential candidates for inclusion in the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs, which could bring in fresh capital inflows.

Additionally, the report notes that HORIZONROBOT-W (ASX: 09660) requires a clearer development roadmap to support its long-term value, and CLSA maintains its "Outperform" rating on the stock.

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