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Li Auto price target lowered to $20.20 from $25.60 at Citi

Citi lowered the firm’s price target on Li Auto (LI) to $20.20 from $25.60 and keeps a Neutral rating on the shares following the Q3 report. The firm sees vehicle margin in Q4 remaining low at 16%, considering. Citi reduced estimates to reflect Li’s latest sales guidance and “intense” competition.

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