Understanding the Market | Horizon Robotics-W rose over 6% after being included in the Hang Seng Tech Index, Goldman Sachs is optimistic about the journey of 6 accelerating product upgrades
Horizon Robotics-W rose over 6%, as of the time of publication, up 6.23%, priced at HKD 9.04, with a transaction volume of HKD 280 million. In terms of news, on February 21, the Hang Seng Index Company announced the latest quarterly review results, in which Horizon Robotics was included in the Hang Seng Tech Index constituent stocks. The adjustment will take effect from March 10, 2025. Goldman Sachs released a research report stating that Horizon's inclusion in the Hang Seng Tech Index is expected to help further re-evaluate its valuation. The target price was raised from the previous HKD 7.9 to HKD 11.77, with a rating of "Buy." Goldman Sachs stated that the "Journey 6" series under Horizon Robotics is expected to benefit from the smart driving trend initiated by BYD and is anticipated to be favorable for the upgrade of Horizon's product portfolio (from ADAS to intelligent driving solutions) and customer diversification. BYD previously announced plans to significantly increase the adoption of smart driving in future vehicle models and will use Horizon's 128 TOPS J6M smart driving chip alongside Nvidia's Orin-N in major vehicle models, indicating that Horizon's sales are expected to increase significantly
According to Zhitong Finance APP, Horizon Robotics-W (09660) rose over 6%, with a current increase of 6.23%, priced at HKD 9.04, and a trading volume of HKD 280 million.
In terms of news, on February 21, the Hang Seng Index Company announced the latest quarterly review results, in which Horizon Robotics was included in the Hang Seng Tech Index constituent stocks. The adjustment will take effect from March 10, 2025. Goldman Sachs released a research report stating that Horizon's inclusion in the Hang Seng Tech Index is expected to help further valuation reassessment. The target price was raised from the original HKD 7.9 to HKD 11.77, with a rating of "Buy."
Goldman Sachs stated that the "Journey 6" series under Horizon Robotics is expected to benefit from the smart driving trend initiated by BYD in the mainland, and is anticipated to be favorable for the upgrade of Horizon's product portfolio (from ADAS to intelligent driving solutions) and customer diversification. BYD previously announced plans to significantly increase the adoption of smart driving in future vehicle models and will use Horizon's 128 TOPS J6M smart driving chip and Nvidia's Orin-N in major models, indicating that Horizon's sales are expected to increase significantly
