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When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
After years of economic headwinds, China is making a comeback, with the government's newly announced stimulus measures igniting a significant rally across Chinese equities. Among the sectors benefiting from this momentum are electric vehicle (EV) automakers, which have surged in the wake of this economic boost.
A press release by a key Chinese economic committee did little to excite investors and sent Chinese stocks tumbling.
Li Auto Inc. Sponsored ADR (LI) reachead $29.29 at the closing of the latest trading day, reflecting a +1.61% change compared to its last close.
Stocks of several Chinese companies have experienced notable movement this week, primarily spurred by China's expanded stimulus plans. Li Auto (LI, Financial) recorded a price increase of 0.24%, reflecting investor optimism in the broader economic context.
Can stimulus save the Chinese economy?
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Li Auto, the largest of the emerging EV players in China, delivered a record 53,709 vehicles for September 2024 - an increase of 49% percent year-over-year. Sales also expanded by about 11.6% compared to August.
Chinese consumers just can't wait to get behind the wheel of a next-generation vehicle.
BEIJING, China, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China's new energy vehicle market, today announced that it delivered 53,709 vehicles in September 2024, up 48.9% year over year. This brought the Company's third-quarter deliveries to 152,831, increasing by 45.4% year over year. As of September 30, 2024, Li Auto had delivered a total of 341,812 vehicles in 2024, with cumulative deliveries reaching 975,176.