Li Auto price target lowered to $48.50 from $57.30 at Citi

Citi lowered the firm’s price target on Li Auto to $48.50 from $57.30 and keeps a Buy rating on the shares. The analyst cut estimates through 2026 to reflect the company’s downward adjustment of volume guidance. The firm believes there will likely be no re-rating catalysts for the next 10 days “because Li’s relatively weak sales have been underperforming the sector.” If April sales volume does not recover meaningfully, the negative sentiment will not reverse over the short term, the analyst tells investors in a research note.