0737 GMT - Li Auto has yet to bottom out in terms of quarterly performance amid further challenges ahead, Nomura analysts write in a note. Li Auto faces fierce competition from peers to its L series full-electric vehicles, as well as a bottleneck in i6 battery capacity. The company is also dealing with fallout from a recall of its MEGA model, while facing a seasonal softer sales period, Nomura says. Looking ahead to 2026, Li Auto may face more pressure on margin and shipments in 1Q compared with 4Q 2025, due to weaker demand and the upcoming reduction in China's EV purchase tax exemption, it adds. The brokerage maintains a neutral rating on Li Auto with a target price of $31.00. The ADRs last closed at $18.43. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 27, 2025 02:37 ET (07:37 GMT)
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