Horizon Robotics Class B, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Tim Hsiao from Morgan Stanley maintained a Buy rating on the stock and has a HK$11.50 price target.
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Tim Hsiao has given his Buy rating due to a combination of factors, chiefly Horizon Robotics’ materially upgraded growth outlook. Management now targets revenue expanding at over 60% annually, with 2026 sales expected to surpass Rmb6bn, supported by stable high‑margin licensing income and triple‑digit growth in product revenue as AD chip volumes and average selling prices rise on a richer J6P mix.
He also highlights the improving quality of growth, with management aiming for gross margins above 60% by 2026, underpinned by near‑100% margins in licensing and a 40–50% range for products, as well as efficiency gains from outsourcing certain controllers to tier‑1 suppliers. Despite current losses driven by elevated R&D spending, Hsiao views this investment and the upcoming integrated cockpit‑driving Agentic SoC/OS as catalysts that can expand the addressable market, drive additional shipment growth, and support meaningful upside to the current share price.
In another report released today, DBS also maintained a Buy rating on the stock with a HK$13.00 price target.
9660’s price has also changed moderately for the past six months – from HK$10.440 to HK$7.250, which is a -30.56% drop .