WeRide initiated with an Outperform at BNP Paribas

BNP Paribas analyst Sophia Chi initiated coverage of WeRide (WRD) with an Outperform rating and $11 price target The company has established a “strong regulatory and operational moat” via its permits across eight countries, asset-light partnerships, and vehicle portfolio, the analyst tells investors in a research note. The firm sees a “clear path” to profitability for WeRide.