Core Viewpoint - Morgan Stanley initiates coverage on Horizon Robotics-W (09660) with an "Overweight" rating and a target price of HKD 13, highlighting the company's leading position in the intelligent driving solutions market in China [1] Company Summary - Horizon Robotics is recognized as a leading supplier of intelligent driving solutions, expected to achieve a 46% market share in the ADAS solutions market among Chinese automakers by the first half of 2025 [1] - The company is anticipated to benefit significantly from the accelerated penetration of intelligent driving technologies in China [1] - Competitive product performance and pricing strategies are believed to help Horizon Robotics continue to expand its market share and drive growth [1] Financial Projections - The company is projected to achieve a compound annual growth rate (CAGR) of 56% in revenue from 2024 to 2027, with an expected annual growth rate of 73% in 2028 [1] - This growth trend is expected to further drive the company's stock price upward [1]