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On Monday, Jefferies analysts initiated coverage on RoboSense Technology (2498:HK) with a Hold rating. The firm also set a price target of NT$49.80 for the company’s shares.
The initiation was detailed in a note to clients. "We initiate coverage on RoboSense with a Buy rating and PT of RMB49.8, which implies 53% potential upside. RoboSense is the first to achieve mass production of auto-grade MEMS solid-state LiDAR with self-developed SPAD SoC chips, and captured 26% share of global LiDAR market by shipments in 2024," Jefferies analysts stated.
The firm’s commentary noted that RoboSense was the first to mass-produce automotive-grade MEMS solid-state LiDAR using its own self-developed chips. According to Jefferies, the company held a 26% share of the global LiDAR market by shipments in 2024.
The analysts’ note also mentioned the company’s ambition to be a leading supplier in embodied intelligence through a range of robotics products. Jefferies projects a 55% compound annual growth rate in sales for RoboSense between 2024 and 2026, forecasting the company will achieve its first full-year profit of RMB 112 million in 2026.
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