WeRide initiated with an Overweight at Morgan Stanley

Morgan Stanley initiated coverage of WeRide (WRD) with an Overweight rating and $23 price target WeRide is a pure play in global L4+ autonomous driving, the analyst tells investors in a research note. The firm is constructive on the company’s “solid” order pipeline in robotaxis and robovans, which it expects will reach large-scale commercialization by 2026.