Why Li Auto Stock Keeps Going Up

Chinese electric car company Li Auto (NASDAQ: LI) released a powerful fourth-quarter earnings report on Monday, sending its shares flying nearly 19% by the closing bell, and giving a lift to the whole EV industry.

On Tuesday morning, Li Auto was maintaining its momentum, with three Wall Street analysts raising their price targets on the stock over the last 24 hours. As of 11 a.m. ET, Li stock was already up another 9.7%.

Tic-tac-toe, three in a row -- first Jefferies, then , then Bank of America raised their price targets on Li, saying the stock will rise to anywhere from $56 to more than $60 a share over the next 12 months. The high target suggests investors will book gains of more than 33% if they buy the stock today.

Source Fool.com