XPeng price target lowered to $7.21 from $8.92 at Citi

Citi lowered the firm’s price target on XPeng to $7.21 from $8.92 and keeps a Sell rating on the shares post the fiscal 2022 results. China’s electric vehicle sector is in oversupply, with B-segment battery electric vehicles total available models in fiscal 2023 growing 68% year-over-year, "much slower than the demand growth."

Published first on TheFly

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