Li Auto (NASDAQ:LI) PT Raised to $58.60 at Citigroup

Li Auto (NASDAQ:LIGet Rating) had its price objective raised by equities researchers at Citigroup from $26.80 to $58.60 in a research report issued to clients and investors on Tuesday, The Fly reports. Citigroup’s target price would suggest a potential upside of 76.77% from the company’s previous close.

A number of other research firms also recently weighed in on LI. Bank of America cut their target price on Li Auto from $35.00 to $33.00 in a research report on Tuesday, May 10th. Barclays upped their target price on Li Auto from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, February 28th. HSBC initiated coverage on Li Auto in a report on Friday, April 1st. They issued a “buy” rating and a $35.00 target price for the company. initiated coverage on Li Auto in a research note on Thursday, March 24th. They issued a “buy” rating and a $37.20 price target for the company. Finally, UBS Group increased their price target on Li Auto from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 4th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $42.69.

LI stock opened at $33.15 on Tuesday. The company has a current ratio of 3.89, a quick ratio of 3.76 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $34.01 billion, a PE ratio of 3,315.00 and a beta of 1.73. Li Auto has a 1-year low of $16.86 and a 1-year high of $37.45. The business’s 50 day simple moving average is $24.91 and its 200 day simple moving average is $27.07.

Li Auto (NASDAQ:LIGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.79. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.51 billion. Li Auto had a return on equity of 0.08% and a net margin of 0.09%. The firm’s quarterly revenue was up 167.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) EPS. As a group, sell-side analysts predict that Li Auto will post -0.33 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in LI. Captrust Financial Advisors boosted its stake in Li Auto by 584.1% during the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock valued at $28,000 after buying an additional 917 shares during the period. Elequin Capital LP bought a new stake in Li Auto during the first quarter valued at $32,000. Prospera Financial Services Inc bought a new stake in Li Auto during the first quarter valued at $65,000. Signaturefd LLC boosted its stake in Li Auto by 52.6% during the fourth quarter. Signaturefd LLC now owns 2,823 shares of the company’s stock valued at $91,000 after buying an additional 973 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Li Auto by 495.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,020 shares of the company’s stock valued at $97,000 after buying an additional 2,513 shares during the period. Institutional investors own 21.74% of the company’s stock.

About Li Auto (Get Rating)

Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE, a six-seat smart electric sport utility vehicle that is equipped with smart vehicle solutions, navigation on ADAS, and automatic emergency breaking functionalities.

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