China Renaissance analyst Yiming Wang downgraded XPeng to Hold from Buy with a price target of $11.30, down from $40.50, after the Q3 net loss widened and Q4 revenue guidance came in below the firm’s expectations. Wang cut 2022-24 delivery and earnings forecasts and roll forward valuation to 2023 following XPeng’s Q3 results and Q4 guidance.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on XPEV: