UBS rated Li Auto Inc. (LI.US) at Buy and raised its price target from US$46 to US$47 on 3Q21 result beat.
The carmaker posted 3Q operating loss of RMB98 million, below street consensus and UBS' forecast of RMB300-400 million. The firm's adjusted operating profit of RMB3.36 million was remarkable at this stage. Free cash flow reached RMB1.2 billion in the quarter, standing out from peers.
Equally, the management guided for 4Q delivery of 30,000-32,000 cars, implying a monthly delivery of 11,000-12,000 units in November or December, moderately above street consensus.
The carmaker posted 3Q operating loss of RMB98 million, below street consensus and UBS' forecast of RMB300-400 million. The firm's adjusted operating profit of RMB3.36 million was remarkable at this stage. Free cash flow reached RMB1.2 billion in the quarter, standing out from peers.
Equally, the management guided for 4Q delivery of 30,000-32,000 cars, implying a monthly delivery of 11,000-12,000 units in November or December, moderately above street consensus.
