Macquarie lowered the firm’s price target on Li Auto (LI) to $15 from $17 and keeps an Underperform rating on the shares. Big cash discounts on extended-range electric vehicle models like the L9 and L8 could slow top-line momentum at the same time input costs are rising, squeezing margins, the analyst tells investors in a research note. The firm added that the upcoming i9/i7 battery electric vehicle launches do not look like major volume catalysts in a very crowded BEV SUV market.
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