BofA raised the firm’s price target on Li Auto to $56 from $52 and keeps a Buy rating on the shares after the company reported Q2 results and guided that it expects delivery to be in range of 100-103,000 units in Q3, which the analyst notes would be up 277%-288% year-over-year and up 19% quarter-over-quarter. After factoring in Q2 results, the firm maintains “largely unchanged” its 2023-25 volume sales and revenue forecasts, but “tweaked up” 2023-25 net income forecasts by 2%, 22% and 14%, respectively.
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Read More on LI:
- Li Auto, Inc. Reported Earnings. Did it Beat Estimates?
- Li Auto (NASDAQ: LI) Drives Down Even after Better-than-Expected Q2 Results
- Li Auto sees Q3 revenue $4.46B-$4.59B, consensus $3.9B
- Li Auto reports Q2 EPS 38c, consensus 12c
- Li Auto Inc. Announces Unaudited Second Quarter 2023 Financial Results
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