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<Research>Citi Lifts UBTECH ROBOTICS (09880.HK) TP to HKD190, Rating Buy
Recommend
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Positive
15
Negative
5
UBTECH ROBOTICS (09880.HK)'s 2025 results beat, Citi noted in its report. The management officially revised up the 2026 shipment target for its Walker S series humanoid robots from 2,000-3,000 units to 5,000 units, and set a 2026 gross margin target of 43-45%. The management considered that 2026 will mark a year for UBTECH to commercialize its humanoid robots, instead of verifying them.

The broker lifted its revenue forecasts for 2026 and 2027 by 36% and 52%, respectively. It raised the TP from HKD155 to HKD190 and maintained a Buy rating.

Related News Citi Expects UBTECH (09880.HK) Stock Price to React Positively to Earnings


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