Barclays analyst Jiong Shao lowered the firm’s price target on Li Auto (LI) to $24 from $31 and keeps an Equal Weight rating on the shares. The company’s Q2 miss was expected but the Q3 delivery outlook “seems soft,” the analyst tells investors in a research note. The firm believes Li’s upcoming launch of i6 “needs to be a blockbuster seller.” It cut estimates post the earnings print.
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