Barclays raised the firm’s price target on Li Auto to $56 from $50 and keeps an Overweight rating on the shares. The company reported strong Q4 gross margins despite the price cuts, the analyst tells investors in a research note. Li reported inline revenues and better than expected gross margins, partially due to reversal of warranty provisions in past quarters, says the firm. The firm believes management highlighted a strong new product pipeline in 2024.
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