Lyon: Horizon Robotics-W (09660.HK) target price raised to 11 Hong Kong dollars, good growth prospects, reiterates "outperform" rating.

According to the Wisdom Financial APP, a report released by Lyon stated that Horizon Robotics-W (09660.HK) had a strong performance in the first half of the year, with total revenue increasing by 68% year-on-year, mainly driven by hardware shipments reaching 2 million and a more than 60% year-on-year growth in average selling price. The bank pointed out that J6B's overseas market visibility has increased, coupled with the successful progress of J6P and the upgraded version of HSD, it is expected to significantly contribute to shipments in the passenger car and Robotaxi fields in the next five years. The bank raised its revenue forecast for Horizon Robotics for 2025 to 2027 by 3% to 5%, raised its target price from HK$10.5 to HK$11, believing that future business developments in the coming months could be a catalyst for the stock price and further revaluation, reaffirming its "outperform the market" rating.