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Li Auto Jumps as Jefferies Sees EV Potential in Partnerships

Li Auto Jumps as Jefferies Sees EV Potential in Partnerships
Li Auto gets a buy rating and $44.50 price target as Jefferies starts coverage.
Author:
Shares of Li Auto (
LI) - Get Report jumped Tuesday after analysts at Jefferies started coverage of the Chinese electric vehicle maker with a buy rating and $44.50 price target.
At last check Li Auto shares jumped 6.8% to $34.81.
Jefferies also started coverage of both Xpeng (
NIO) - Get Report with hold ratings. It put price targets of $54.50 on Xpeng and $60 on Nio.
Xpeng was trading at $52.50, up 9.8%, and Nio climbed 0.9% to $56.77.
The perception that Chinese legacy automakers will be ....

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Why NIO Stock Is Up Today | The Motley Fool

NIO just raised more money at good rates. ....

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Why Xpeng Stock Is Higher Today | The Motley Fool

A nod from Wall Street and a new driver-assist system are giving shares a boost. ....

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China 2020 Car Sales Drop 6.8%, Shrinking for Third Year — 2nd Update

Provided by
Dow Jones
By Trefor Moss
SHANGHAI Chinese car sales declined 6.8% last year, as the world s largest market for automobiles shrank for a third straight year.
Yet the single-digit drop counted as a success in the context of 2020, industry analysts said, with the coronavirus pandemic taking an even heavier toll on other markets. Global car sales are estimated to have fallen 15% last year, according to research firm IHS Markit, while U.S. sales are also expected to have dropped about 15%.
In Q1 we projected much, much worse, said Lin Huaibin, an auto analyst at IHS Markit, after sales in China slumped 41% in the March quarter, during which parts of the country were in lockdown. ....

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