The analysts of Bernstein have rated Li Auto, a Chinese EV maker that went public one week ago in the US, with an outperform rating in their initial coverage.
The price target was set to $21.00. At a current price of $18.5 there is upside potential of 13.5%.
Li Auto went up by 10 percent on the news on Thursday. The shares went down by 1 percent in after-hours trading.
It's worth noting a Li ONE on the Guangdong Expressway caught fire at around 16:09 on August 6, 2012, causing concern about the safety of driving an EV.
Responding to this, Li Auto said in an early morning Weibo post that the cause of the fire was an object that flew off from under the car and pierced the high pressure fuel line.
Li Auto said the cause of the accident and detailed analysis of the results will be conducted at the scene of the accident.
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