Li Auto (NASDAQ:LI) shares are trending lower in the pre-market session today after the company said it now expects to deliver only 25.500 vehicles in the third quarter versus the earlier guidance of 27,000 to 29,000 deliveries.
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The development comes owing to supply chain challenges for the company even as product demand remains strong.
Additionally, Li Auto is also working with its supply chain partners to speed up deliveries.
What Is the Future of Li Auto Stock?
Analysts remain Bullish on Li Auto with a Strong Buy consensus rating alongside an average price target of $68.89.
This indicates a substantial 160.36% potential upside in the stock after a 15.4% slide in the share price over the past month.
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