Hesai price target lowered to $28.60 from $33 at Citi

Citi lowered the firm’s price target on Hesai (HSAI) to $28.60 from $33 and keeps a Buy rating on the shares. The firm lowered its target after adjusting revenue and net profit forecasts “towards a more conservative level” and lowered its multiple due to EV sector’s likely weaker-than-expect Q2 shipment trend, the analyst tells investors.