Analyst Tim Hsiao of Morgan Stanley maintained a Buy rating on WeRide Inc. Sponsored ADR (WRD – Research Report), retaining the price target of $23.00.
Tim Hsiao has given his Buy rating due to a combination of factors including the recent rally in WeRide’s stock, which surged significantly following Nvidia’s disclosed investment in the company. Although the investment was small and made before WeRide’s IPO, it still generated excitement about WeRide’s potential in the self-driving technology sector.
The market’s response indicates strong investor interest in the evolution of robotaxi technology and the strategic partnerships that are forming in this space. Tim Hsiao also suggests that companies like WeRide are well-positioned to compete as global ride-hailing companies seek to fend off competition from Tesla’s developments in autonomous vehicles. This competitive stance makes WeRide a compelling investment opportunity in the emerging robotaxi market.
According to TipRanks, Hsiao is an analyst with an average return of -5.0% and a 36.54% success rate. Hsiao covers the Consumer Cyclical sector, focusing on stocks such as Geely Automobile Holdings, Hesai Group Sponsored ADR, and WeRide Inc. Sponsored ADR.