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<Research>Daiwa Adds HORIZONROBOT-W (09660.HK) TP to $12.4, Raises 2026/ 2027 Rev. Forecasts
Recommend 22 Positive 35 Negative 12 |
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HORIZONROBOT-W (09660.HK) delivered strong 2025 results, and has optimistic guidance for 2026 and beyond, according to Daiwa's research report. Daiwa introduced its 2028 forecasts for the Company for the first time, predicting an explosive growth in shipments of highway and urban navigation on autopilot (NOA) chips in 2026. The broker also believed that the Company's strategies of full-vehicle SoC and cockpit fusion is advancing, providing cost-effective solutions for automakers. This allows the Company to avoid competition in the mature and highly homogeneous standalone cockpit chip market while opening up a new 'blue ocean' category centered on full-vehicle intelligence and AI agents. Therefore, Daiwa reaffirmed rating at Buy on HORIZONROBOT-W, and added its target price from $11.8 to $12.4. Given stronger-than-expected growth in order volume and IP licensing service revenue for 2025, the broker raised its 2026/ 2027 revenue forecasts for the Company by 5-17%. AASTOCKS Financial News Website: www.aastocks.com |
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