Daiwa Capital Markets: Optimistic about HORIZONROBOT-W in the mainland market, initiating a "Buy" rating
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Daiwa Capital Markets initiated coverage on HORIZONROBOT-W with a "Buy" rating and a target price of HKD 7.45. It is expected that the compound annual growth rate of sales from 2025 to 2027 will be 57.5%, and it is anticipated to achieve breakeven in 2028. Horizon's ADAS chip solutions in the mainland China market are expected to capture 54% market share by 2027, benefiting from the localization of automotive chips and the penetration of the electric vehicle market
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