Ge Long Hui·2026-02-10 03:20Core Viewpoint - UBS reports that Li Auto's current valuation level is attractive, with a catalyst being the flagship SUV L9 set to be refreshed and launched in the second quarter, which is expected to accelerate growth from a low base in 2025 [1] Group 1: Market Sentiment and Growth Potential - The market sentiment is expected to gradually improve from now until the official launch in the second quarter, which will enhance investor visibility on other model update plans [1] - The flagship SUV L9's launch is anticipated to drive growth, leveraging a low base in 2025 [1] Group 2: Competitive Positioning - Despite facing challenges from rising commodity costs, the company is expected to demonstrate more resilience than most peers due to its high-end positioning and profit buffer [1] - UBS believes that now is an appropriate time to refocus on the stock, reiterating a "buy" rating with a target price of $30 for the U.S. stock [1]