Morgan Stanley upgraded Hesai (HSAI) to Overweight from Equal Weight with a price target of $26, up from $23. The firm believes the company continues to win market share amid growing LiDAR adoption in China. In addition, more overseas projects could enhance Hesai’s margins while robotaxis and smart home robotic appliances will serve as another revenue growth driver from 2026 onwards, the analyst tells investors in a research note.
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