Goldman Sachs: Maintains Hesai-W (02525.HK) "Buy" rating and HK$27 target price; third-quarter gross margin better than expected.

Zhitong Finance APP has learned that Goldman Sachs issued a research report stating that it maintains the "Buy" rating on Hesai-W (02525.HK) and the H-share target price of HK$27, while maintaining the target price of US$28 for Hesai's (HSAI.US) American Depositary Receipts (ADR), believing that the company's valuation is attractive. Hesai's third-quarter revenue and net profit were in line with the bank's expectations, while gross margin and earnings before interest and taxes (EBIT) were better than expected, mainly due to an improvement in average selling prices on a quarterly basis that drove gross margin higher, but this was partly offset by non-operating expenses.