Li Auto (LI) PT Raised to $60 at UBS, Added to APAC Key Call List Citing L9 Upside Potential

UBS analyst Paul Gong raised the price target on Li Auto (NASDAQ: LI) to $60.00 (from $52.00) while maintaining a Buy rating.

The analyst comments "We add Li Auto (Buy) to the UBS APAC Key Call list. Its newly launched large SUV, the L9, received 30k orders within 72 hours with little cannibalisation of the Li One, per management. If monthly sales exceed 10k units, which we think is likely, L9 would be the highest priced model among Chinese auto brands to achieve such sales and would leave more room for Li Auto to add new models to its portfolio. We believe Li Auto is on track to generate the highest revenue growth and margins among new EV makers, and we raise our price target from US$52.00 to US$60.00."

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