Citi adds ’90-day upside catalyst watch’ on WeRide

Citi analyst Jeff Chung added a “90-day upside catalyst watch” on WeRide (WRD) while keeping a Buy rating on the shares with a $15.30 price target Citi sees upside in the stock from Waymo’s potential financing round in Q1 at an implied valuation of 280-times 2025 price-to-sales. This could re-rate WeRide’s valuation, which equates to 34-times 2025 price-to-sales, the analyst tells investors in a research note. Citi also expects improving sentiment around WeRide’s possible entry into Southbound Stock Connect in June.