In a report released today, Tim Hsiao from Morgan Stanley maintained a Buy rating on WeRide Inc. Sponsored ADR (WRD – Research Report), with a price target of $23.00.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Tim Hsiao has given his Buy rating due to a combination of factors that highlight WeRide Inc.’s strategic positioning and growth potential. The company’s recent ability to operate 24 hours a day in Guangzhou, covering significant landmarks and transportation hubs, marks a substantial expansion of its operational capacity. This move is expected to enhance WeRide’s unit economy by increasing the operational scale, which is crucial for the success of their robotaxi services.
Furthermore, WeRide’s plans to extend its services to more tier-one and tier-two cities in China during the second half of the year, along with its collaboration with Uber, are seen as pivotal for its global expansion efforts. The anticipated launch of Tesla’s Cybercab could also serve as a catalyst for the ride-hailing sector, potentially benefiting WeRide as companies adjust their strategies. These factors collectively underpin Tim Hsiao’s optimistic outlook and Buy rating for WeRide Inc.’s stock.