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<Research>BofAS Chops LI AUTO-W (02015.HK) TP to $168, Lowers Sales & Profit Forecasts
Recommend 11 Positive 16 Negative 7 |
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Li Auto Inc. (LI.US) (02015.HK)'s first BEV, Mega, has not been widely accepted by the market, and its monthly orders are expected to remain at only 1,500 to 2,000 units, BofA Securities released a research report saying. Based on the 1Q24 sales volume and the latest model launch plan, BofA Securities lowered its 2024-2026 auto sales forecasts for Li Auto by 7-17%, and decreased its GPM forecasts in the same period based on the price competition environment. BofA Securities also cut its 2024-2026 EPS forecasts for the Company by 4%/ 22%/ 24% each, and chopped its target price on Li Auto's H-shares from $187 to $168, reflecting the latest sales and free cash flow assumptions. BofA Securities kept rating at Buy on Li Auto, based on its solid model launch plan, well-managed GPM and strong free cash flow. AAStocks Financial News |
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