Tiger Brokers

BUZZ-BofA downgrades Li Auto to 'neutral', cuts PT on weaker growth outlook

Reuters
Aug 29
BUZZ-BofA downgrades <a href="https://laohu8.com/S/LAAOF">Li Auto</a> to 'neutral', cuts PT on weaker growth outlook

** BofA Global Research downgrades U.S.-listed Li Auto LI.O to "neutral" from "buy", also cuts PT to $26 from $31

** New PT still represents a 11.8% premium to the stock's last close

** The Chinese EV-maker on Thursday forecast Q3 deliveries of 90,000 to 95,000 vehicles, year-on-year decline of 37.8% to 41.1%

** BofA says co faces growing competition in the family SUV market, and to maintain its growth, Li may expand into sedans or overseas markets

** Notes, while the company's upcoming i6 model could be popular, it might affect sales of the L6 model

** BofA cuts co's 2025 EPS forecast to $4.11 from $7.36

** 19 of 28 brokerages rate the stock "buy" or higher, 8 "hold" and 1 "sell"; their median PT is $32.80- LSEG compiled data

** As of last close, stock had fallen 3% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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