Unitree Robotics shares closed 7.69% higher at 672 yuan in Shanghai on October 26 after JPMorgan upgraded the Chinese robot maker two notches, moving directly from Underweight to Overweight.
The bank also raised its price target to 995 yuan from 300 yuan, Investing.com reported. Shares, which trade under code 688836, had climbed nearly 11% to 693.50 yuan earlier in the session before trimming their gains.
JPMorgan’s change of view followed the World Physical AI Conference in Hangzhou. Founder and CEO Wang Xingxing shortened his estimated timeline for a physical AI breakthrough to one or two years, compared with earlier expectations of up to a decade.
The bank increased its sales forecasts, with its 2028 and 2030 projections implying global market shares of roughly 10%–20%. Analysts argued that improving AI models were shifting the industry’s main constraint toward putting those capabilities to work in the physical world.
The rally follows a volatile period after Unitree’s August IPO and a subsequent stock selloff. JPMorgan’s more bullish outlook depends on faster commercial adoption; the projected market shares remain analyst estimates rather than reported sales results.
