☰
While Barclays raised XPeng’s price target to $20 from $7, JPMorgan lowered its target from $35 to $31.
NYSE-listed shares of Chinese EV-maker XPeng Inc (XPEV) are down by nearly 6% on Thursday morning after Wall Street expressed a mixed take on the stock despite an upbeat fourth-quarter earnings report and a positive outlook for the first quarter.
According to TheFly, Barclays raised XPeng’s price target to $20 from $7 on Thursday while maintaining an ‘Underweight’ rating.
The brokerage noted the company’s jump in deliveries in the fourth quarter (Q4) and this year but highlighted that the stock’s valuation is “stretched” after rallying over 90% this year.
At the same time, Bank of America raised its price target on XPeng to $27 from $18.60 while keeping a ‘Buy’ rating on the shares.
However, not all analysts are as optimistic. On Wednesday, JPMorgan lowered its price target on XPeng from $35 to $31 while keeping an ‘Overweight’ rating on the shares.
The brokerage highlighted the company’s higher research and development expenses and more conservative pricing trend despite stronger sales volume.
Daiwa Securities downgraded XPeng to ‘Hold’ from ‘Buy’ while increasing the price target to $24 from $8.90.
The firm expects 2025 to be a solid year for XPeng's car sales but expressed concerns that the company’s intent to start mass-producing Turing chips for use in its cars this year may drag down its overall gross margin.
On Stocktwits, retail sentiment surrounding XPEV shares remained in the ‘bullish’ territory, coupled with high message volume over the past 24 hours.
A Stocktwits user sees potential for the shares to touch the $50 mark.
For Q4 2024, the company reported a total revenue of RMB 16.11 billion ($2.21 billion), marking a growth of 23.4% year-on-year (YoY), compared to an analyst estimate of RMB16.15 billion, according to FinChat data. Loss per ordinary share came in at RMB 0.73 ($0.10), lower than an estimated loss of $0.20.
The company expects its first quarter 2025 total revenue to be between RMB 15 billion and RMB 15.7 billion, marking a YoY jump of up to 140%, on the back of strong delivery numbers.
XPeng shares on NYSE are up by over 130% over the past 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
subscribe to Asianet Newsable WhatsApp channel by clicking here.