Why Li Auto Stock Just Jumped 6%

Shares of Chinese electric carmaker Li Auto (NASDAQ: LI) leapt 6% higher through 11 a.m. ET Monday. Probably partly because of China's stimulus effort to jump-start its economy and boost demand for electric cars and other consumer products, which is helping many Chinese stocks today.But partly, the reason is Citigroup, which just raised its price target on Li stock for the second time in a week.As The Fly reports, on Tuesday last week Citi analyst Jeff Chung raised his price target on Li stock from $21.60 per share to $25.50 -- an 18% bump -- citing a "strong EV sector sales tailwind." Today's bump is similar, if not quite so big, from $25.50 to $29.60. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool