BofA analyst Ming Hsun Lee raised the firm’s price target on Li Auto to $57 from $48 and keeps a Buy rating on the shares after the company announced Q4 results. Management guided Q1 deliveries to be 100,000-103,000 units, which would be up 90%-96% year-over-year and down 22%-24% quarter-over-quarter, notes the analyst, who raised the firm’s 2024 and 25 volume sales forecast by 3% each and raised EPS estimates for those years by 41% and 70%, respectively.
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