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Citi: Upgrade Siasun Robot&Automation-W to a "Buy" rating, raise Target Price to 12.3 Hong Kong dollars.
Citi released a Research Report stating that it raised the rating of Horizon Robotics-W (09660) to "Buy", with the Target Price increased from 6 HKD to 12.3 HKD, and initiated a 90-day upward catalyst observation. The firm has raised its sales volume forecast for Horizon for the next two years by 25%, reaching 5.24 million and 8.38 million respectively, and also increased its revenue forecast by 29% and 30%. The firm expects this year's net loss to be 0.696 billion RMB (originally expected net loss of 1.11 billion RMB), while next year is expected to see a net income of 1.47 billion RMB (originally expected net income of 0.607 billion RMB).