Pony AI Stock Surges 9% on Analyst Buy Recommendation
Autonomous vehicle technology firm Pony AI (PONY) surged 9.2% Monday, significantly outperforming the S&P 500's 1.6% gain. The rally followed Johnson Wan's initiation of coverage with a buy rating and $32.80 price target, representing 48% upside from current levels.
Wan highlighted China's transformational mobility market, projecting a 52 billion yuan ($7.3 billion) addressable market by 2030. Pony AI's regulatory navigation capabilities and cost containment stood out as competitive advantages in his analysis.
Jefferies wasn't alone in its Optimism - another major U.S. bank added Pony AI to its 30-day catalyst watch list on Friday, though specific rationale remains undisclosed. The dual endorsements suggest growing institutional confidence in China's autonomous driving sector.
