02:05 AM EDT, 06/03/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our target price at USD20, implying a 2026 P/S of 1.3x, below its three-year average of 1.6x. The discount in valuation is justified by potential margin pressure from AI investments in 2026, and a second-tier market position, with limited upside until the company demonstrates sustained quarterly profitability and concrete AI monetization. We project revenue growth moderating to 24%/17% for 2026/2027, largely due to increased vehicle deliveries and new model launches, but declining ASPs from intensifying competition (BYD, Geely), product mix dilution, and lower subsidies will lead to slower growth. Elevated R&D spending on next-generation autonomous driving an d robotics platforms, upfront costs for global sales and infrastructure expansion, and persistent input cost inflation will likely further dampen margins through 2026 despite improved scale efficiency. We trim our estimate to a loss per ADS (LPADS) of CNY3.02 (from EPADS of CNY0.66) for 2026 and 2027's EPADS to CNY0.48 (from CNY2.00).