Major Bank Ratings | UBS: Reiterates "Buy" Rating for Li Auto, Upcoming Launch of Refreshed L9 Expected to Catalyze Revaluation

Glonghui, February 10｜UBS released a research report stating that Li Auto's current valuation level is attractive. As for catalysts, the flagship SUV L9 will be relaunched in the second quarter, which is expected to drive growth to reaccelerate in 2025 from a low base. UBS believes that from now until the official launch in the second quarter, market sentiment is likely to gradually improve, which will also help enhance investor visibility on other model update plans. Despite the challenge of rising commodity costs, the company is expected to be more resilient than most peers due to its premium positioning and profit buffer.