Light detection and ranging solutions (LiDAR) company Hesai (HSAI) saw its stock rally on Monday after two-star DBS analyst Elizabelle Pang updated the firm’s coverage of the shares. The analyst reiterated a Buy rating and increased the price target for the shares from $28 to $35, representing a potential 55.9% upside. This is the second-highest price target for HSAI stock, behind Citi’s $36 prediction.
Pang expects Hesai to benefit from the growing robotaxi industry, thanks to its ties to large automotive OEMs and robotaxi companies. The company also has strong guidance for 2025 that would see it beat Wall Street’s estimates. Pang argues that this, combined with its strong gross margins and ongoing advanced driver-assistance systems (ADAS) development, warrants the Buy rating and $35 price target.
Investors will note that Pang has a 45.45% success rate with an average return of 0.7%. Her major focus is the Consumer Cyclical sector, especially the automotive market.
HSAI Stock Movement Today
Investors are excited about the increased price target for HSAI stock today, boosting the shares 13.11% higher as of this writing. That builds on its 62.05% increase year-to-date and its 381.61% gain over the past 52 weeks.
Today’s rally also comes with heavy trading of HSAI stock. This has more than 5.91 million shares traded, compared to a three-month daily average of 5.08 million units.
Is HSAI Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Hesai is Strong Buy based on six Buy and one Hold ratings over the last three months. With that comes an average price target of $24.31, a high of $36, and a low of $15. This represents a potential 8.89% upside for HSAI stock.
See more HSAI stock analyst ratings
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