WeRide (WRD.US)'s US stock has descended by 10% YTD, underperforming the KWEB ETF by 16% since mid-January, JPMorgan issued a research report saying. Part of the weakness reflects renewed concerns over intensified competition in the robotaxi sector, particularly following Tesla (TSLA.US)'s entry into the field, which has drawn attention.
However, the broker believed that, without in-depth localization software integration and data accumulation, Alpamayo's impact on advanced autonomous driving features is limited, areas where WERIDE-W (00800.HK) and leading Chinese suppliers maintain structural advantages.
Last Friday (6th), WeRide announced plans to deploy at least 1,200 robotaxis in the Middle East in partnership with Uber by 2027, clearly outlining WeRide's path to commercial scale. Therefore, the broker reiterated rating at Overweight on WeRide's US stock, with a target price of US$17.
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AASTOCKS Financial News
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