J.P. Morgan downgraded Li Auto from Neutral to Underperform on February 9, 2026. The firm slashed its price target to $14, citing a projected 10% sales decline and a return to losses by 2026. Analysts identified intensifying competition, price rebates, and rising costs for lithium, copper, and semiconductors as primary headwinds.
Li Auto shares fell 3% during the February 9 session and closed at $18.35, representing a 3.27% drop. However, the stock showed resilience with a $19.20 close on February 11 and maintained that level in after-hours trading. This follows a $18.97 close on February 6 and a subsequent 1.64% gain on February 11.
The recent price gains reflect short-term market resilience despite a bearish sector outlook and the absence of positive company news. While J.P. Morgan remains pessimistic, the broader analyst consensus price target for the stock ranges from $23.62 to $24.92.