BofA Securities analyst Ming Hsun Lee lowered the price target on WeRide Inc (NASDAQ: WRD) to $10.70 (from $11.80) while maintaining a Buy rating.

The analyst comments "WeRide reported its 2Q26 results and hosted a conference call on 12 August. 2Q26 revenue increased 82% YoY/103% QoQ to RMB232mn, driven by L4 business expansion (+47% YoY/+131% QoQ) and rapid growth of L2++/L3 business (+2594% YoY/+219% QoQ). Gross profit margin came in at 37.5% in 2Q26, up 9.4ppt YoY/2.8ppt QoQ, driven by higher sales contribution from high-margin L2++/ L3 business and overseas L4 business (overseas sales +164% YoY/+169% QoQ). R&D expenses totaled RMB434mn in 2Q26, up 36% YoY, while SBC expenses amounted to RMB55mn. Non‑GAAP net loss was RMB338mn in 2Q26 (vs. RMB301mn in 2Q25 and RMB326mn in 1Q26), roughly inline with consensus and our forecast."