LI is trading at $18.35 (-3.27%) in pre-market after JPMorgan downgraded the stock to Underweight from Neutral.
- JPMorgan slashed its price target to $14 from $18, citing a lack of new models and expected negative growth across China's auto industry.
- The firm anticipates falling sales volumes and weaker margins will pressure the company's financial performance.
- This price action reverses a recent six-day winning streak, occurring amid flat performance in the major indices.