SINGAPORE: Shares of Chinese robot-maker Unitree Robotics have surged more than 60 per cent in less than two weeks amid growing optimism over humanoid robots, even as the company cautioned investors about risks facing the nascent industry.
The Shanghai-listed stock rose 7.7 per cent on Monday (Oct 26), before edging down about 1 per cent in Tuesday morning trading, paring some of its recent gains.
Unitree shares closed at 672 yuan on Monday, up from 405.10 yuan on Oct 15.
Monday's gains came after US investment bank JPMorgan upgraded Unitree to "overweight" from "underweight", a two-step increase that means it now views the firm as likely to outperform expectations, according to financial news site Investing.
Guess WordCrack the word, one row at a timeBuzzwordCreate words using the given lettersMini SudokuTiny puzzle, mighty brain teaserMini CrosswordSmall grid, big challengeWord SearchSpot as many words as you can Show More Show LessJPMorgan also more than tripled its price target for Unitree to 995 yuan from 300 yuan.
JPMorgan's upgrade came after Unitree Robotics founder Wang Xingxing suggested last week that a major breakthrough in physical AI could come as soon as next year, compared with earlier estimates of up to a decade, according to financial news site Investing.com.