In a report released today, Saiyi He from CMB International Securities maintained a Buy rating on Hesai Group Sponsored ADR, with a price target of $26.70.
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Saiyi He has given his Buy rating due to a combination of factors including Hesai Group’s strong financial performance and promising business outlook. The company reported a significant increase in revenue for the third quarter of 2025, surpassing market expectations, and demonstrated robust growth in LiDAR shipments, which are crucial for its future prospects. The management’s optimistic guidance for 2025 and beyond, including a substantial increase in expected LiDAR shipments, supports the positive outlook.
Additionally, Hesai Group’s ability to maintain healthy gross profit margins and optimize costs further strengthens its financial position. The company’s competitive advantage and anticipated revenue growth justify a premium valuation compared to industry peers. These factors collectively underpin Saiyi He’s confidence in the company’s potential for continued success, leading to the Buy rating.