Morgan Stanley lowered the firm’s price target on WeRide (WRD) to $13 from $23 and keeps an Overweight rating on the shares. The firm, which cut its 2025-26 volume forecasts for WeRide’s robobus and robosweeper businesses, thinks WeRide’s “severe share price movements” over the past three months largely reflect China’s robotaxi industry volatility. However, it remains constructive on WeRide’s long-term outlook and robotaxi partnership with Uber (UBER) overseas, the analyst tells investors.
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