Raymond James raises Fulgent Genetics stock price target to $36 on strong performance
Investing.com - Bernstein analyst Dien Wang initiated coverage on Hesai Technology (HK:2525) with an Outperform rating and a price target of HK$253.00.
The research firm identified Hesai as a global frontrunner in LiDAR technology, which provides advanced perception capabilities for both vehicles and emerging robots, positioning the company to benefit from the intelligent vehicle market growth.
Bernstein noted that despite ongoing debates about LiDAR’s necessity, rapid performance improvements and falling costs are accelerating its adoption, with over 80% of vehicle models featuring Urban Navigate on Autopilot (NOA) now incorporating LiDAR technology.
In China, long-range Advanced Driver-Assistance Systems (ADAS) LiDAR penetration currently stands at approximately 10% and is expected to increase rapidly as intelligent vehicles gain market share, according to the research note.
Bernstein forecasts Hesai’s ADAS LiDAR revenue to grow at a compound annual growth rate of over 50% from 2024 to 2027, citing the company’s recent share gains with key automotive manufacturers BYD and Geely as evidence of its strong competitive position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.