Bank of America Securities analyst Ming-Hsun Lee maintained a Buy rating on WeRide Inc. Class A today and set a price target of HK$31.00.
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Ming-Hsun Lee has given his Buy rating due to a combination of factors, primarily the scale and visibility of WeRide’s growth with Uber in the Middle East, where at least 1,200 robotaxis are planned to be deployed by 2027 across Abu Dhabi, Dubai, and Riyadh through an asset-light model. This partnership, which integrates WeRide’s vehicles into the Uber platform and phases in capacity alongside regulatory approvals and performance milestones, underpins a clear path for expanding autonomous ride-hailing coverage to additional cities by 2030.
Lee also highlights WeRide’s existing fleet of over 200 robotaxis in the region and its early success, including fully driverless commercial operations in Abu Dhabi and passenger services in Dubai and Riyadh, with Abu Dhabi already achieving breakeven unit economics. In his view, scaling this fleet should consolidate WeRide’s leadership in the regional robotaxi market, improve profitability, and justify a higher valuation, supporting a Buy rating with a price objective above the current share price.