BofA analyst Jessie Lo lowered the firm's price target on Hesai to HK$234 from HK$250 and keeps a Buy rating on the shares following Q4 results. The firm expects Hesai to remain profitable in Q1, though seasonality in autos will weigh on profitability. The firm noted that the lower price target reflects updated forecasts, adding that it anticipates good news ahead with the company tapping into a new era as a physical-AI enabler.
