JPMorgan has initiated coverage on HORIZONROBOT-W (09660), assigning an "Overweight" rating with a target price of HK$13. As a leading provider of intelligent driving solutions, HORIZONROBOT-W captured a 46% market share in China's ADAS solutions for automakers in the first half of 2025.

With the rapid acceleration of intelligent driving adoption in China, top-tier technology suppliers like HORIZONROBOT-W are expected to benefit significantly. JPMorgan highlights the company's competitive product performance and pricing strategy as key drivers for sustained market share expansion and growth. Additionally, its robotics product line is anticipated to generate incremental revenue and support long-term growth.

The bank forecasts a 56% compound annual growth rate (CAGR) for HORIZONROBOT-W's revenue from 2024 to 2027, with an expected 73% year-on-year growth in 2028. This upward trajectory is likely to further boost the stock's performance.