US Tiger Securities analyst Bo Pei lowered the price target on Li Auto (NASDAQ: LI) to $28.00 (from $33.00) while maintaining a Buy rating.

The analyst comments "We are maintaining our BUY rating but decreasing price target to $28 (was $33). Li Auto’s second quarter 2025 results came in largely in line with expectations, as the company had already lowered its 2Q delivery guidance earlier in the quarter. Deliveries reached 111,074 units, representing a modest 2% increase year over year and a 20% rebound from the prior quarter. Total revenues came in at RMB 30.2 billion, down 4.5% year over year but up 16.7% sequentially. Vehicle sales contributed RMB 28.9 billion, down 4.7% from a year ago, reflecting a lower average selling price due to product mix changes and higher incentives, but still up 17% quarter on quarter as volumes recovered."