＜Research＞BofAS Chops LI AUTO-W (02015.HK) TP to $168, Lowers Sales & Profit Forecasts

　　Li Auto Inc. (LI.US) (02015.HK) -1.600 (-1.463%) Short selling $340.99M; Ratio 22.010% 's first BEV, Mega, has not been widely accepted by the market, and its monthly orders are expected to remain at only 1,500 to 2,000 units, BofA Securities released a research report saying.

　　Based on the 1Q24 sales volume and the latest model launch plan, BofA Securities lowered its 2024-2026 auto sales forecasts for Li Auto by 7-17%, and decreased its GPM forecasts in the same period based on the price competition environment.

　　Related NewsJefferies Slashes LI AUTO-W (02015.HK) TP to $141.43, Lowers Sales & Earnings Forecasts

　　BofA Securities also cut its 2024-2026 EPS forecasts for the Company by 4%/ 22%/ 24% each, and chopped its target price on Li Auto's H-shares from $187 to $168, reflecting the latest sales and free cash flow assumptions.

　　BofA Securities kept rating at Buy on Li Auto, based on its solid model launch plan, well-managed GPM and strong free cash flow.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-08 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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