Morgan Stanley notes that Hesai management hosted a call after the company was among a dozen Chinese companies added to the U.S. Department of Defense’s list of “Chinese Military Companies.” Management cited no immediate impact on near-term contracts or orders and the collaboration with U.S. OEMs so far and reiterated guidance for $400M-$450M revenue and 30-35% GpM for 2024, the analyst tells investors. The firm stays Overweight the shares on what it sees as the company’s autonomous driving leadership, adding that it believes Hesai is well positioned to ride the increasing penetration of high-end ADAS in China and it remains positive on the company’s “go-global” progress.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on HSAI: