Pony AI Inc. (NASDAQ:PONY) is one of the 11 Hot New Stocks to Invest in Now. On May 21, Allen Chang, an analyst from Goldman Sachs, raised the firm’s price target on Pony AI Inc. (NASDAQ:PONY) from $23.1 to $26, maintaining a Buy rating on the stock.
Analyst Chang likes the company’s leadership in Level 4 autonomous mobility in China. Pony AI Inc. now operates a large fleet of robotaxis and robotrucks in four major tier-1 cities, including Beijing, Shanghai, Guangzhou, and Shenzhen. Chang noted that these cities are the largest ride-hailing markets in China.
A closeup of a self-driving hardware unit inside the dashboard of a passenger vehicle.
In addition, the analyst also noted that the company’s regulatory permits for fully driverless robotaxi services in these cities are a major milestone. The profitability of Pony AI Inc. remains attractive, Chang noted that a major factor in the company is the introduction of generation 7 vehicles. This has improved the company’s unit economics and operational efficiency.
Pony AI Inc. is a technology company that develops and operates autonomous vehicles. It runs three main businesses, including fully driverless robotaxi services, robotruck freight services with safety drivers, and intelligent driving solutions.
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This article is originally published at Insider Monkey.
