Analyst Saiyi He of CMB International Securities maintained a Buy rating on Hesai Group Sponsored ADR, retaining the price target of $29.30.
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Saiyi He has given his Buy rating due to a combination of factors that underscore Hesai’s solid execution and attractive growth outlook. The company’s first-quarter 2026 results exceeded profit expectations on the back of stronger-than-anticipated cost control, while revenue growth of about 30% year over year aligned with projections and outpaced market consensus, indicating robust demand and operational efficiency.
He also highlights management’s strategic growth initiatives, including new AI-driven spatial intelligence products and robotic actuation, which are expected to scale rapidly and approach the size of the core LiDAR business within five years, with some offerings shifting toward a recurring revenue model that should enhance margins over time. Alongside steady forecasts for strong LiDAR shipment growth and rising adoption of L3 autonomous driving, he believes these drivers support a valuation re-rating, justifying the maintained price target of $29.3 and a continued Buy recommendation.
He covers the Communication Services sector, focusing on stocks such as Tencent Holdings , Iqiyi, and Bilibili. According to TipRanks, He has an average return of 7.2% and a 49.57% success rate on recommended stocks.
In another report released yesterday, Citi also assigned a Buy rating to the stock with a $28.60 price target.