Bernstein analyst Eunice Lee downgraded XPeng to Market Perform from Outperform with a price target of $12, down from $16. XPeng will continue to face pressure from increasing competition, and sales momentum could pick up come Q3, risks remain and it remains unclear whether G6 will be a blockbuster following the lackluster performance of P5 and G9 launches, the analyst tells investors in a research note.
Published first on TheFly
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