Macquarie Initiates WeRide with "Outperform" Rating, Sets Target Price at HK$46/US$17.50

Macquarie initiated coverage of autonomous driving company WeRide (WRD.US; 0800.HK) with an "Outperform" rating and set target prices of HK$46 for its Hong Kong-listed shares and USD 17.50 for its U.S.-listed shares. The report noted that the key to future competition in the autonomous ride-hailing sector lies in establishing a first-mover advantage, creating network effects, and demonstrating a scalable and profitable business model. Macquarie believes WeRide holds strong potential in this space.