Jefferies sharply hiked Li Auto’s target price to HK$235.01 from HK$139.61, with Buy rating
COMPANY NEWS STOCKS VIEWS & ANALYSIS
Jefferies sharply hiked Li Auto’s target price to HK$235.01 from HK$139.61, with Buy rating
COMPANY NEWS STOCKS VIEWS & ANALYSIS

Jefferies sharply hiked Li Auto’s target price to HK$235.01 from HK$139.61, with Buy rating

 

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Chinese electric vehicle maker Li Auto’s revenue and net profit surged 53% and 147%, respectively, year over year to 28.6 billion yuan and 2.3 billion yuan, respectively, in the second quarter of 2023, which were consistent with estimates, Jefferies said in a report. 

The company’s guidance for car delivery volume in the third quarter is 100,000-103,000 units, which was slightly shy of the forecast. Jefferies turned more upbeat on the outlook of Li Auto due to the company’s strong product pipeline and the launch of city NOA.

Jefferies raised the forecast of Li Auto’s 2023-24 net profit to 8.3 billion yuan and 17 billion yuan, respectively. 

The broker kept the rating of Li Auto at Buy, with target price hiked from HK$139.61 to HK$235.01.