Keep an eye on Chinese stocks, such as Li Auto (LI).
After a miserable few months, the stock is coming back strong. For one, China is ramping up stimulus to boost its downed markets. Two, analysts at Deutsche Bank just upgraded the stock to a buy, with a price target of $41. As noted by Investing.com, “Deutsche Bank sees a compelling set-up for Li Auto in the coming quarters. The upgrade is based on a robust product pipeline and an attractive valuation for a top-tier EV player.”
In addition, “Deutsche Bank analysts forecast a total of 625,000 deliveries for Li Auto in 2024, reflecting a significant 66% YoY increase.”
From its current price of $30.95, we’d like to see the stock retest $38 near term.