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<Research>JPM Initiates Coverage on UBTECH ROBOTICS (09880.HK) w/ Rating Overweight/ TP $135
Recommend 39 Positive 66 Negative 28 |
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As a strategic pioneer in the humanoid robot industry, UBTECH ROBOTICS (09880.HK) has a solid customer base, including over 10 customers conducting trial runs or confirming orders, according to JPMorgan's research report. Notable partners include industry giants such as BYD COMPANY (01211.HK), Zeekr (ZK.US), SERES (601127.SH) and BAIC MOTOR (01958.HK). The Company benefited from its close relationship with BYD COMPANY, also headquartered in Shenzhen, and strong policy support from local and central governments. Therefore, the broker initiated coverage on UBTECH ROBOTICS, with rating at Overweight and a target price of $135, based on a projected FY2027 PS ratio of 11x. JPMorgan said that the global humanoid robot industry is a disruptive technology with significant growth potential, and expected the industry to develop a total addressable market (TAM) of 5 billion units over the next decade. UBTECH ROBOTICS is positioned as a leader in this high-growth industry. With its strategic location at Shenzhen, an innovation center, the Company is poised to seize major market opportunities and benefit from a mature manufacturing supply chain and supportive policy environment, appearing set for thrive. Government initiatives aimed at maintaining global manufacturing competitiveness further enhance UBTECH ROBOTICS' growth prospects. AASTOCKS Financial News Website: www.aastocks.com |
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