LI - Why Li Auto Stock Surged 6% Today
2024-03-12 12:20:06 ET
Li Auto (NASDAQ: LI) stock bounced 6.5% through 10:35 a.m. ET on Tuesday after receiving two bullish notes from Wall Street analysts. On Monday, Bernstein urged investors to "buy the mega dip" in this Chinese electric car maker's stock , as StreetInsider reported. Just one day later, The Fly reported that Morgan Stanley agrees.
Li auto stock, says Morgan Stanley, is poised to almost double in price -- and will soar to $74 a share within a year.
Li Auto stock had a terrific 2023, with sales surging 173.5%, gross profit margin expanding 280 basis points, and free cash flow growing to $6.2 billion. Net income according to generally accepted accounting principles ( GAAP ) flipped from a loss in 2022 to a profit of $1.7 billion in 2023.
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Why Li Auto Stock Surged 6% Today