0804 GMT - WeRide may benefit from the adoption of autonomous driving in China and international markets, J.P. Morgan analysts write in a note. The brokerage is optimistic about the overall autonomous driving market in the long term. The total addressable market for global and Chinese autonomous driving was $10 billion and $2 billion, respectively, in 2022. The analysts expect the market sizes are expected to reach $1.745 trillion and $639 billion in 2030, respectively. WeRide is one of the most commercially successful L4 autonomous driving companies globally in terms of commercialization revenue, they note. As a technology leader in the industry and one of the first movers with substantial data and accumulated autonomous driving mileage, the brokerage initiates an overweight rating for the stock with a target price of $21.00. Shares last traded at $15.93. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 07, 2025 03:04 ET (08:04 GMT)
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