BofA lowered the firm’s price target on Li Auto to $36 from $41 and keeps a Buy rating on the shares after the company announced Q1 results and guided Q2 deliveries to be 105,000-110,000 units. Following the report, the firm cut its 2024, 2025 and 2026 volume sales forecasts by 7%,11% and 6%, respectively, and cut its EPS forecasts by 33%, 21% and 2%, respectively.
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