Daiwa Initiates Coverage on GEEKPLUS-W (02590) with "Buy" Rating, Sets HK$38 Target Price

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Oct 06

Daiwa Securities has initiated coverage on GEEKPLUS-W (02590) with a "Buy" rating and a target price of HK$38. The investment bank highlighted that the company stands as a global leader in warehouse automation mobile robot solutions, commanding a 9% market share.

The firm noted that GEEKPLUS-W delivers comprehensive warehouse automation solutions to clients, including Autonomous Mobile Robots (AMR) and proprietary software systems. Despite the company's leadership position, AMR technology currently represents only 8% of the global warehouse automation market, with merely 22.5% of warehouses worldwide having achieved automation.

Daiwa emphasized the substantial growth potential in this sector, projecting that global AMR revenue will achieve a compound annual growth rate exceeding 30% between 2024 and 2029. The securities house believes GEEKPLUS-W is uniquely positioned to capitalize on this growth trajectory as the sole publicly traded pure-play AMR company in the market.

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The securities house believes GEEKPLUS-W is uniquely positioned to capitalize on this growth trajectory as the sole publicly traded pure-play AMR company in the market.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0164939612.USD","symbol_name":"HSBC GIF ASIA EX JAPAN SMALLER CO. \"AC\" ACC","start_time":0,"source_url":"","article_id":"1103483396","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1103483396","pubTimestamp":1759737255,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Daiwa Securities has initiated coverage on GEEKPLUS-W (02590) with a \"Buy\" rating and a target price of HK$38. 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