Elizabelle Pang, an analyst from DBS, maintained the Buy rating on Hesai Group Sponsored ADR (HSAI – Research Report). The associated price target was raised to $35.00.
Elizabelle Pang has given her Buy rating due to a combination of factors that highlight Hesai Group’s promising position in the lidar and robotics market. The global lidar market, particularly in automotive and robotaxi applications, is expected to grow significantly, and Hesai is well-positioned to benefit from this trend due to its leading market share and strategic partnerships with major OEMs and robotaxi players. Additionally, Hesai’s new product launches and its capabilities in mass production and R&D further strengthen its competitive edge.
Moreover, Hesai’s financial outlook for FY25F is robust, with management projecting lidar shipments and earnings significantly above consensus estimates. The company’s ability to maintain strong gross margins despite declining average selling prices also underscores its operational efficiency. Positive catalysts such as ongoing ADAS, autonomous driving, and robotic launches are anticipated to drive further growth in Hesai’s earnings and share price, justifying the Buy rating and a target price of USD35.
According to TipRanks, Pang is a 2-star analyst with an average return of 0.7% and a 45.45% success rate. Pang covers the Consumer Cyclical sector, focusing on stocks such as Tesla, Ford Motor, and General Motors.
In another report released on March 13, Citi also reiterated a Buy rating on the stock with a $36.00 price target.
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