UPDATE: Needham & Company Starts Li Auto (LI) at Buy; 'Differentiated Products & Better Margins vs. Peers'
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Needham & Company analyst Vincent Yu initiates coverage on Li Auto (NASDAQ: LI) with a Buy rating and a price target of $37.00.
The analyst commented, "We are initiating coverage of Li Auto (Ticker: LI) with a Buy rating and a $37 price target. Li operates in the smart EV market in China, developing and manufacturing premium extended-range electric vehicle (EREV) SUVs targeting middle-class families who look to enjoy an electric vehicle (EV) experience without range constraints. We believe the company's unique value proposition, focused strategy, and diligent margin and costs control, make it a quality asset in the growing EV space."
Shares of Li Auto closed at $24.38 yesterday.
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