Why Li Auto Stock Just Jumped 6%
Shares of Chinese electric carmaker Li Auto (NASDAQ: LI) leapt 6% higher through 11 a.m. ET Monday. Probably partly because of China's stimulus effort to jump-start its economy and boost demand for electric cars and other consumer products, which is helping many Chinese stocks today.
But partly, the reason is , which just raised its price target on Li stock for the second time in a week.
As The Fly reports, on Tuesday last week Citi analyst Jeff Chung raised his price target on Li stock from $21.60 per share to $25.50 -- an 18% bump -- citing a "strong EV sector sales tailwind." Today's bump is similar, if not quite so big, from $25.50 to $29.60.
Source Fool.com
Citigroup Inc. Stock
€116.76
0.120%
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