SMOG - Li Auto's Strategic Adjustments And Upcoming Model Launches Position It for Future Success Says Goldman Sachs | Benzinga
Goldman Sachs analyst Tina Hou reiterated a Buy rating on Li Auto Inc (NASDAQ:LI) with a price target of $43.60.
On Monday, Li Auto reported fiscal first-quarter 2024 revenue growth of 36.4% year-on-year to $3.55 billion, missing the analyst consensus estimate of $3.84 billion. Adjusted net earnings per ADS was $0.17, missing the analyst consensus estimate of $0.35.
Hou noted the next few quarters will be a transition period for Li Auto, with the company re-aligning its strategy on product launch, pricing adjustment, sales networks adjustment, and headcount optimization.
The analyst noted that Li Auto’s BEV SUV model launch schedule is delayed to the first half of 2025 from the second half of 2024, and the models will be launched in sequence rather than together.
Li Auto lowered L7, L8, L9, and Mega prices by 18k Chinese yuan to 30k Chinese yuan on April 22, and management disclosed no plans for ...