Analyst Rachel Miu from DBS maintained a Buy rating on XPeng, Inc. Class A (9868 – Research Report) and keeping the price target at HK$60.00.
Rachel Miu’s rating is based on XPeng’s strategic shift towards non-LiDAR technologies, which are expected to enhance their autonomous driving capabilities at a lower cost, positioning them favorably in the competitive landscape. This technological shift is exemplified by the introduction of the P7+, anticipated to be a significant advancement in their product lineup.
Additionally, XPeng’s impressive sales performance, highlighted by a 16% year-over-year increase in the third quarter of 2024, driven by the successful launch of the MONA M03 model, supports the Buy rating. With robust pre-sale orders during the National Day Golden Week and projected sales growth, XPeng’s market outlook appears promising, prompting an increase in target prices to HKD60/USD15.
In another report released on November 12, Jefferies also maintained a Buy rating on the stock with a HK$70.80 price target.
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XPeng, Inc. Class A (9868) Company Description:
XPeng Inc is a Smart Electric Vehicle company designing, developing, manufacturing and marketing smart electric vehicles in China. The company manufactures environmentally friendly vehicles, namely an SUV (the G3) and a four-door sports sedan (the P7). It targets the mid- to high-end segment in China’s passenger vehicle market.
