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Investing.com - JPMorgan has initiated coverage on UBTECH Robotics (9880:HK) with an Overweight rating and a price target of HK$135.00.
The Shenzhen-based company is positioned as a strategic early mover in the humanoid robot industry with a robust customer base that includes over 10 clients in trial runs or with confirmed orders.
UBTECH’s notable partners include industry giants such as BYD (SZ:002594), Dongfeng Liuzhou Motor, Zeekr, Seres, Foxconn (SS:601138), and BAIC, according to JPMorgan.
The firm notes that UBTECH benefits from its strong relationship with BYD, which is also headquartered in Shenzhen, and receives substantial policy support from both local and central governments.
JPMorgan’s December 2026 price target of HK$135 implies approximately 50% potential upside, based on a price-to-sales methodology that reflects the industry’s nascent stage and high growth potential.
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