Goldman Sachs Upgrades Target Price for Horizon Robotics to HK$13.33, Maintains 'Buy' Rating

Published: Mar 26, 2025 12:40

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Goldman Sachs raised the target price of Horizon Robotics to HK$13.33 and maintained a "Buy" rating. Goldman Sachs published a report stating that Horizon Robotics (09660.HK) achieved expected revenue and operating profit in H2 last year, with gross margin exceeding expectations. The firm is optimistic about the company, believing it will benefit from the accelerated adoption of intelligent driving applications in China, helping automotive OEMs stand out in fierce competition and attract buyers; the increase in chip adoption by local customers; and the transition to high-end products. Recently, Li Auto announced plans to adopt Horizon Robotics' J6M chip in its L/MEGA series car models, upgrading the existing J5 solution. The firm holds a positive view on the long-term partnership between Horizon Robotics and Li Auto, reflecting Horizon Robotics' credibility as a supplier. The firm maintained a "Buy" rating on Horizon Robotics, raising the target price from HK$11.77 to HK$13.33.

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