Freedom Capital Lowers Li Auto (LI) Price Target Amid China EV Price War

Li Auto Inc. (NASDAQ:LI) ranks among the best high growth Chinese stocks to buy. On January 7, Freedom Capital Markets cut its price target for Li Auto Inc. (NASDAQ:LI) from $34 to $25 while maintaining a Buy rating for the company’s shares. According to the firm, Li Auto Inc. (NASDAQ:LI) recorded mixed quarterly performance and offered a weak forecast for the upcoming quarter.

Chinese EV producers are currently caught in an intense price war to offset sluggish domestic demand, putting major pressure on Li Auto’s sales. In this environment, Freedom Capital stated that the company is striving to strike a balance between cutting product pricing and optimizing costs.

The firm stated that Li Auto’s future performance will be determined by technology advances that will cut car costs while increasing customer attractiveness, as well as the company’s planned expansion into overseas markets.

Chinese EV maker Li Auto Inc. (NASDAQ:LI) specializes in smart SUVs and extended-range electric cars (EREVs). The company is a trailblazer in the effective marketing of extended-range electric vehicles.

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Disclosure: None. This article is originally published at Insider Monkey.