Core Viewpoint - Citigroup has set a target price of HKD 39.6 for WeRide (00800) and rated it as "Buy" based on several factors including potential financing rounds and market confidence [1] Group 1: Valuation and Market Sentiment - Citigroup initiated a 90-day upward catalyst observation for WeRide, considering the potential financing round by Waymo in Q1 of this year, which implies a valuation of 280 times the 2025 sales ratio [1] - There is an increased investor confidence regarding WeRide's potential entry into the Hong Kong Stock Connect (southbound) in June this year [1] Group 2: Industry Dynamics - The competition in the technology sector between China and the U.S. may lead to more proactive policies in China regarding ADAS (Advanced Driver Assistance Systems) and autonomous taxi services [1] - The light asset business of WeRide is developing well, indicating positive growth prospects [1]
花旗：对文远知行(00800)开启90天上行催化剂观察