Chinese EV stock Li Auto, Inc.’s (NASDAQ: LI) deliveries of Li ONE increased 128.1% year-over-year to 12,268 units in January. The company has delivered 136,356 units of the SUV since its launch.
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The President of Li Auto, Yanan Shen, said, “We have delivered over 10,000 Li ONEs for the third consecutive month, achieving a new record for domestic branded premium vehicles priced above RMB 300,000 in China…During a recent third-party Autonomous Emergency Braking (AEB) test, Li ONE was ranked No. 1 and was the only assessed model capable of accurately identifying crossing vehicles and two-wheelers, demonstrating our strong ADAS research and development capabilities.”
About Li Auto
Based out of Beijing, Li Auto designs, develops, manufactures, and sells premium smart EVs. As of January 31, the company had 220 retail stores in 105 cities as well as 276 servicing centers and Li Auto-authorized body and paint shops operating in 204 cities.
LI stock closed 8.8% up on Monday. It was trading 3.3% higher in the pre-market session on Tuesday at the time of writing.
Wall Street’s Take
Last month, Macquarie analyst Erica Chen initiated coverage on Li Auto with a Buy rating but did not provide a price target.
Additionally, Tim Hsiao of Morgan Stanley (NYSE: MS) reiterated a Buy rating on the stock with a $49 price target (87.8% upside potential).
Hsiao said, “Li ONE deliveries should top 15,000 per month in 1H22, in our view, propelled by easing supply bottlenecks and further expansion of sales network.”
Overall, the stock has a Strong Buy consensus rating based on 7 unanimous Buys. The average Li Auto stock prediction of $52.25 implies 100.3% upside potential. Shares have lost 20.1% over the past six months.
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