Li Auto price target raised to $37.20 from $31 at Jefferies

Jefferies raised the firm’s price target on Li Auto (LI) to $37.20 from $31 and keeps a Buy rating on the shares. The company “has more cards to play” in the second half of the year and the market is yet to price in its artificial intelligence initiatives, the analyst tells investors in a research note. The firm believes Li’s early mover strategy” in large-scale deployment of supercharging stations on highways has helped the recent comeback of Mega sales.