Morgan Stanley: Hesai's guidance is positive, maintaining an "Overweight" rating
Morgan Stanley published a research report indicating that Hesai Technology (HSAI.US) performed strongly in the third quarter, and the guidance for the fourth quarter shows a continued positive growth trend. However, the ADR fell 9.9% overnight, while the Nasdaq index only dropped 0.25%, which is believed to be mainly due to profit-taking and the recent pullback in the autonomous taxi and autonomous driving ecosystem.
Morgan Stanley stated that although Hesai Technology's guidance for next year is positive, investors still have concerns about price competition. The firm maintains an "Overweight" rating on the company, with a target price of 35 yuan
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