CMB International: Downgrades Ideal Automobile-W (02015.HK) target price to 62 Hong Kong dollars, maintains "hold" rating.

Zhijian Finance APP learned that CICC International released a research report stating that it has lowered the target price of Li Auto-W (02015.HK) by 11.4% in the Hong Kong stock market, from 70 Hong Kong dollars to 62 Hong Kong dollars, and also lowered the target price of its US stock (LI.US), maintaining a "hold" rating for both. The bank has reduced its net profit forecast for 2026-2027 by 85% and 21% to 511 million RMB and 6.1 billion RMB, respectively. Although the bank still believes that it is an excellent company, it believes that Ideal Auto's advantage over its peers is narrowing until the development path of "physical AI" becomes clearer.