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WeRide initiated with a Buy at UBS

UBS initiated coverage of WeRide (WRD) with a Buy rating and $12 price target The firm says the company has pioneered L4, or high driving automation, deployment acorss 30 cities in 10 countries, the analyst tells investors in a research note. The firm likes WeRide’s overseas strategy and “top-tier” robotaxi technology. It estimates 71% annual sales growth through 2030.

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