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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 of 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 at 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 became 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.
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