Major Bank Report | Citigroup Raises Ubiquiti Target Price by 23%

SighingCashier · 2026-04-02T04:31:24+00:00

Citigroup has raised the target price for (09880) by 23% to 190 yuan and increased revenue forecasts for 2026 and 2027, as its management raised shipment guidance for the Walker S series humanoid robots to 5,000 units, expecting commercialization in 2026.

SighingCashier

2026-04-02 04:31:24

Abstract generation in progress

Citigroup raises the target price for UBTech (09880) by 23% to HK$190, and increases its annual revenue forecasts. This is because management has raised its shipment guidance for the Walker S-series humanoid robots, reaffirming a “Buy” rating.

In a report, Citigroup said that UBTech management has increased the Walker S-series humanoid robot shipment guidance for 2026 from 2,000–3,000 units to 5,000 units, and expects a target gross margin of 43% to 45% for 2026. Management is confident that 2026 will be the year UBTech humanoid robots achieve commercialization.

Citigroup has raised its revenue forecasts for 2026 and 2027 by 36% and 52%, respectively, to reflect the raised guidance. UBTech may launch the next-generation industrial humanoid robot Walker S3 in the second quarter of 2026, which is 15% lighter than the S2 and has lower costs.

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