TC

12/04/2024 15:20

{I-bank focus}Daiwa lowers Li Auto (LI US) to USD49

  Daiwa lowered the target price for Li Auto (LI US) to USD49 from USD61 and maintained the "buy" rating.
  The research house said it revises down 2024-26 sales volume forecasts by 11-22% based on management's volume guidance cut and heightened competition. It also lowers the 2024-26E gross margin by 0.2-0.4% given a reduced utilisation rate.

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