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)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。