Barclays stays on sidelines after ‘weak’ results from XPeng

XPeng reported "weak" Q4 results and provided "soft" Q1 delivery guidance as it goes through a significant product transition and some leadership changes, Barclays analyst Jiong Shao the analyst tells investors in a research note. The hope is XPeng’s new products will take off later in the year for sales to reaccelerate, says the firm. However, citing limited visibility of XPeng’s sales ramp or potential success of its new models, Barclays would continue to stay on the sidelines. It keeps an Equal Weight rating on the shares with an $8 price target.