Unitree Robotics shares surge on JPMorgan double-upgrade

 Unitree Robotics shares rose sharply on Monday after JPMorgan hiked its rating and target price on the stock, following positive feedback from a major robotics conference in Hangzhou. 

Unitree– which trades as Yushu Technology Co, Ltd (SS:688836)– jumped nearly 11% to 693.50 yuan, hitting a two-month high. The stock also rose past flat performances in China’s Shanghai Composite and Shanghai Shenzhen CSI 300 indexes. 

JPMorgan raised Unitree to Overweight from Underweight– a two-step increase– while also raising its price target on the stock to 995 yuan from 300 yuan. 

The new target implies about 20% upside from Unitree’s Friday close. 

The double-upgrade comes as JPMorgan analysts took positive cues from the 2026 World Physical AI Conference in Hangzhou, held last week. 

The conference helped reverse JPMorgan’s initially cautious stance on Unitree, especially after CEO Wang Xingxing accelerated their timeline for a physical AI breakthrough to one-two years from prior estimates of up to 10 years. 

Analysts said this shift was driven by rapid progression in AI developments, which pushed the industry’s bottleneck away from AI reasoning capacity and more towards real-world, physical applications. 

JPMorgan also hiked its sales forecast for Unitree in what was described as an accelerated adoption curve, with projections for 2028 and 2030 implying between 10% and 20% global market share. 

Unitree is regarded as being among China’s most advanced robotics developers, especially in humanoid robotics. The company went public in a high-profile offering in August, although its shares have struggled since its debut, amid a broader decline in tech and AI stocks. 

Last week, Unitree revealed a humanoid "bodyguard" robot based on its H2 platform.