Jefferies downgraded Li Auto (LI) to Hold from Buy with a price target of $17.50, down from $28.80. The firm says competition in the company’s family SUV segment has intensified. Huawei’s strong product cycle in 2026 could further pressure Li Auto’s EREV lineup, the analyst tells investors in a research note. While Li’s debut of its first AI glass marks an initial move into AI hardware, meaningful commercialization of the company’s broader AI initiatives may take time, adds Jefferies. It views 2026 as a transition year for Li.
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