Li Auto Q2 2021 deliveries tops guidance, rise 40% over prior quarter

On Jul 2, 2021 26

Li Auto has delivered 7,713 Li ONEs in June 2021, representing an increase of 320.6% Y/Y, and +78.4% M/M from 4,323 Li ONEs delivered in May.
Total deliveries for Q2 rose 166.1% Y/Y and 39.7% Q/Q to reach an all-time high of 17,575, exceeding the top end of the Company’s guidance range of 14,500 and 15,500 vehicles.
Li Auto is on Seeking Alpha’s Catalyst Watch for the week.
LI stock gained ~12% over the past week as focus shifts to upside from infrastructure deal.

Li Auto attracts higher estimates from BofA after strong deliveries report

Bank of America is constructive on Li Auto (NASDAQ:LI) after the Chinese electric vehicle producer delivered 7,713 Li ONEs in June to mark 321% Y/Y growth and 78% M/M growth.
After taking in the deliveries report, BofA analyst Ming Hsun Lee and team raise the 2021 deliveries forecast for Li Auto by 6% to 68K and now expects 101K deliveries in 2022.
In addition, BofA expects the net loss to narrow in 2021-2022 based on the higher revenue scale and better operating leverage. The firm also raises its EV/sales multiples to fall in line with the latest valuation on peers. BofA keeps a Buy rating on Li Auto and hikes the price objective to $39.
Shares of Li Auto are down 1.38% in premarket trading to $34.21 to trim the double-digit gain for the week.