UBS reiterated a Buy rating on Li Auto ($LI) and set a price target of US$30, driven by the stock's attractive valuation and anticipated product catalysts.
- The firm noted the current valuation is historically attractive, trading lower than 95% of the time since the company's listing.
- Growth is expected to re-accelerate following the refresh of the flagship Li L9 SUV, scheduled for the second quarter of 2026.
- UBS believes Li Auto's high-end positioning will provide resilience against ongoing commodity cost challenges.