BofAS Cuts HESAI-W TP to HKD211, Reiterates Buy
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BofAS has cut its target price for HESAI-Wfrom HKD234 to HKD211 while maintaining a Buy rating. The firm anticipates a significant increase in shipment volume for 1Q26, projecting a rise of 104% to 130% YoY, reaching 400,000-450,000 units. Revenue is expected to grow by 24% to 33% YoY, totaling RMB650 million to RMB700 million. However, earnings may fall short due to seasonal factors and higher operating expenses, leading to a 7% reduction in the earnings forecast for the year.
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