XPeng named ‘Research Tactical Idea’ at Morgan Stanley

Morgan Stanley named XPeng a “Research Tactical Idea” on the belief the share price will rise in absolute terms over the next 45 days. The stock has traded off recently, making XPeng’s short term valuation “much more compelling,” the analyst tells investors in a research note. The firm thinks the company’s “weak” Q1 volume is largely priced into the shares and expects volume resurgence from Q2 as well as more updates on collaboration with VW, advanced driver development, and upcoming new model cycle. Morgan Stanley has an Overweight rating on the shares with an $18 price target.