Li Auto shares rose 7.5% in morning trading Friday, as U.S.-listed Chinese electric vehicle stocks rallied. The Nasdaq Golden Dragon China Index gained more than 2% during the session.

The advance followed a period of pressure that pushed Li Auto to a 52-week low earlier this week. Xpeng Motors and NIO also posted gains Friday, with Chinese EV stocks broadly participating in the move.

CGS International reaffirmed its Buy rating on Li Auto on Thursday. The consensus analyst price target of around $15 suggests potential upside from current levels.