Citi analyst Jeff Chung raised the firm’s price target on Xpeng to $57.71 from $34.70 and keeps a Buy rating on the shares. The stock closed Friday down $2.74 to $41.99. The analyst expects “strong” China new energy vehicle sales momentum to continue into Q1 of 2021 with the sector year-over-year above 100%. Xpeng should to deliver greater than 3,000 P7 monthly sales in January “after more sufficient battery supply,” Chung tells investors in a research note. The analyst values Xpeng’s software business separately at $7.65 per share. His “bull case sensitivity analysis” suggests the stock could be worth $67.79.
previous post
next post