Citi Reaffirms Ratings After Company Updates

Citi analysts maintained their ratings and price targets for several major companies following recent developments. Li Auto remains rated Neutral with a $34.30 price target as it forecasts strong year-over-year delivery and revenue growth, along with new model launches and autonomous driving upgrades, despite narrower vehicle margins. Instacart kept its Buy rating and $57 price target amid a CEO transition, with Citi citing robust membership, advertising revenue, and gross margin growth as signals of operational stability. Marvell Technology was reaffirmed as Buy with a $96 target ahead of earnings, with expectations of growth in enterprise networking and data center segments but some concern over customer concentration. Abercrombie & Fitch maintained a Buy rating and $98 price target after surpassing earnings estimates and raising fiscal 2025 guidance, despite some margin pressure. Adidas retained its Buy rating and €290 price target after a customer data breach, with operational risks considered minimal and the company's response praised.