Citi reduced its target price for Li Auto (LI) from $20.2 to $18.5 while maintaining a Neutral rating, citing deepening retail discounts and an "order intake miss in January."
- The firm significantly trimmed its financial outlook, cutting sales forecasts by 9-10% and net profit projections by 16-18% for 2026 and 2027.
- The target price reduction also reflects intensified industry competition and concerns over the aging L series models.