HSBC lowered its earnings forecasts for Li Auto through 2028, citing weaker new car cycle and profitability concerns.
HSBC reduced its price target for Li Auto (NASDAQ:LI) to $15.60 from $17.20 while keeping a Hold rating on June 10, 2026. The adjustment follows lowered earnings forecasts for 2026-2028, reflecting a cautious view on the company’s new car cycle and profitability outlook.
Li Auto delivered 33,350 vehicles in May, bringing cumulative deliveries to 1,702,792. The company launched the Li L9 in May, securing over 10,000 orders within two weeks. Barclays previously cut its price target to $14 from $18 in May, maintaining an Equal Weight rating.
The firm operates in China’s energy vehicle market, where competition and margin pressures persist.