#3 - Li Auto (NASDAQ:LI)
Chinese stocks took a beating in 2023. Li Auto Inc. (NASDAQ: LI) was a notable exception. The stock is up 18% in the last 12 months despite being down 25% in the last three months. Li Auto is the leading manufacturer of electric vehicles (EVs) within the People's Republic of China.
However, this appears to be a case of a rose getting buried among the thorns. A lack of demand in the United States has beaten down the EV sector. The same can't be said of China. In the company's third quarter 2023 earnings report, Li Auto reported a 271% year-over-year increase in revenue. And the bottom line grew at a similar year-over-year pace.
Elon Musk has already sounded the alarm about the potential dominance of Chinese EV makers. In fact, Li Auto outsold Tesla Inc. (NASDAQ: TSLA) in October 2023 and now leads China in EV sales.
The Li Auto analyst ratings on MarketBeat project a stock price gain of 164% in that same time. That's likely due to the company's expectation that it will increase earnings by more than 83.5% in the next 12 months.
About Li Auto
Li Auto Inc operates in the energy vehicle market in the People's Republic of China. It designs, develops, manufactures, and sells premium smart electric vehicles. The company's product line comprises MPVs and sport utility vehicles. It offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.
Read More - Current Price
- $22.28
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $33.94 (52.3% Upside)
