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<Research>G Sachs Downgrades LI AUTO-W (02015.HK) to Neutral, Lowers TP to HKD74
Recommend 4 Positive 4 Negative 6 |
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LI AUTO-W (02015.HK) announced its 4Q25 results, aligning with expectations, Goldman Sachs said in its report. However, the sales volume and gross margin guidance for 1Q26/ 2026 were below expectations. Following the announcement of LI AUTO's 4Q25 results, the broker trimmed its forecasts for 2026-28, with sales volume forecasts axed by 5-22%, based on management's guidance for 2026 sales being below expectations and the slower rollout of revamped models. The net profit forecast was reduced by 21-34%. Goldman Sachs cut the target price for LI AUTO from HKD93 to HKD74, and the rating was lowered from Buy to Neutral. The broker expected LI AUTO to enter two straight quarters of deeper net profit losses, with sluggish sales growth and pressure on vehicle gross margins. AASTOCKS Financial News Website: www.aastocks.com |
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