Barclays Just Slashed Its Price Target on Li Auto (LI) Stock

Li Auto (NASDAQ:LI) stock is slipping on Thursday after the electric vehicle (EV) company’s shares were hit with a price target cut and downgrade.Barclays analyst Jiong Shao downgraded is behind this with a price target drop from $39 per share to $25 per share. That represents a potential upside of 4.7% from its prior closing price. However, it’s well below the analysts’ consensus estimate of $45.36 per share.The downgrade for LI stock drops it from an “overweight” rating to an “equal weight” rating. That’s ...