LI is trading 3.7% down at $14.96 in pre-market action after the company posted a surprise Q1 net loss and issued a disappointing outlook for the second quarter.
- The stock is under pressure following a surprise quarterly loss and Q2 revenue guidance that fell short of analyst expectations.
- BofA Securities lowered its price target on the stock from $22 to $18 while maintaining a Neutral rating, citing the weaker-than-expected results.