To The Moon

1. Goldman Sachs: US economy is expected to fall into recession in 2023 with a 30% probability

According to a report released by Goldman Sachs Group, due to macroeconomic weakness caused by inflation and the Russia-Ukraine conflict, the U.S. economy has a 30% probability of falling into recession in 2023, which exceeds the previous forecast of 15%; the cumulative probability of U.S. recession over the next two years is 48%, which exceeds the previous estimate of 35%.

Economists from Goldman Sachs maintain their forecast for U.S. economic growth of 2.8% in Q2 2022, but lower their growth estimates for Q3, Q4 2022 and Q1 2023 to 1.75%, 0.75% and 1% respectively.

2. Standard Chartered Bank: Given the financial environment continuously tightening, the US dollar has room for further gains of 5%

Steve Englander, strategist in Standard Chartered, said that the US dollar has room to rise further by as much as 5% as the financial environment tapers enough against the Fed’s rate hikes.

If both the market and the Fed underestimate the economy's downturn with an unexpected easing in the financial environment, he believes the US dollar could fall 5%.

3. Credit Suisse: Thanks to product capability beats expectation, Li Auto’s target price is raised to $48 per share.

According to a report from Credit Suisse, due to better-than-expected capability of Li Auto’s products, it raised its adjusted earnings per share forecast from 2022 to 2024 by 7.21 times, 30.2% and 0.9% to RMB 0.39, RMB 2.71 and RMB 3.64 yuan respectively; it also increased its sales forecast with the target price of US$48 from 46, maintaining its Outperform rating.

What’s more, the report said the newly launched full-size SUV L9 is priced at RMB 459,800 yuan with deliveries beginning in August. According to the guidance from company, L9 deliveries are expected to exceed 10,000 units in September, beating the bank's expectation of a monthly average of 8,000 to 9,000 units.

$Li Auto(LI)$