Morgan Stanley Downgrades Hesai Group (HSAI) to Equalweight

Morgan Stanley analyst Tim Hsiao downgraded Hesai Group (NASDAQ: HSAI) from Overweight to Equalweight with a price target of $15.00 (from $5.80).

The analyst comments: "Hesai's share price has rallied over 295% since mid-November 2024 (vs. NASDAQ's +2%), largely factoring in improving market sentiment on earlier operational breakeven timeline. While solid order pipeline should provide revenue visibility to some extent, market demand on client models and mounting price pressure from OEMs will likely create uncertainties. With the stock now trading at 7x 2025e P/S vs, historical average of 4x since IPO in 2023, we see limited further upside to the valuation multiple and thus we move to EW from OW."

For an analyst ratings summary and ratings history on Hesai Group click here. For more ratings news on Hesai Group click here.

Shares of Hesai Group closed at $13.53 yesterday.

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