Pony AI initiated with a Buy at UBS

UBS analyst Paul Gong initiated coverage of Pony AI (PONY) with a Buy rating and $20 price target which implies 53% upside from current levels. Pony is best positioned for China’s robotaxi commercialization, the analyst tells investors in a research note. The firm says Pony is the only robotaxi company to start commercial fee-charging and driverless operations in all four tier one cities in China. Following test drives, UBS is impressed with the company’s ability to handle complicated road situations without human help. It forecasts annual sales growth of 96% through 2030 for Pony.

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