Goldman Sachs is positive on fast-growing autonomous driving company Pony AI. Analyst Allen Chang reiterated a buy rating on the robotaxi stock, raising his 12-month price target to $22.50 from $19.60, implying shares could gain about 22% compared with Wednesday’s close. Guangzhou, China-based Pony AI has been ramping up its robotaxi expansion, according to Chang. In December, the company received a mutual-recognition qualification in the Greater Bay Area of China, easing the path to other qualifications for cross-city operations, the analyst said. The company began driverless tests on a highway in Beijing last month and also announced services in the Hong Kong international airport. “We are positive on Pony AI given the strong [research and development], early mover in getting Robotaxi licenses in tier 1 cities, and ecosystem/partnership in the industry to reduce vehicle costs and customer acquisition costs,” Chang wrote in a note on Wednesday. Pony AI American Depositary Receipts on Nasdaq are ahead about 22% in 2025, after falling 17% in 2024, according to FactSet data. Pony AI came public in late November 2024 in an initial public offering led by Goldman Sachs. PONY 1D mountain Pony AI shares on Thursday —CNBC’s Michael Bloom contributed to this report.
