UBS: Reaffirms "Buy" rating on Ideal Automobile, L9's new listing will soon catalyze reappraisal.

UBS released a research report stating that the current valuation level of Ideal Cars is attractive. In terms of catalysts, the flagship SUV L9 will be refreshed and launched in the second quarter, which is expected to accelerate growth on a low base in 2025. UBS believes that from now until the official launch in the second quarter, market sentiment is expected to gradually improve and help increase investors' visibility on other models' updates. Despite facing challenges of rising commodity costs, the company is expected to be more resilient than most peers due to its high-end positioning and profit cushion. UBS believes that now is the appropriate time to focus on this stock again, reiterating a "buy" rating with a target price of $30 for the US stocks.