XPeng price target lowered to $15 from $34 at HSBC

HSBC analyst Yuqian Ding lowered the firm’s price target on XPeng to $15 from $34 and keeps a Buy rating on the shares. Near-term volume contraction and a challenging competition landscape in the mass market pricing range are largely priced into the shares, Ding tells investors in a research note. The analyst expects XPeng’s restructuring to "unlock more value."