HSBC lowered the firm’s price target on XPeng to $18.70 from $20.40 and keeps a Buy rating on the shares. The company’s Q4 results beat expectations on improving gross margin given cost optimization and mix upgrade, the analyst tells investors in a research note. The firm says the joint procurement with VW likely to further benefit gross margin, but that XPeng’s higher mass market product mix could dilute margin in the long term.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XPEV:
- Nio or XPeng: Bank of America Chooses the Superior EV Stock to Buy
- XPeng price target lowered to $12 from $17 at Bernstein
- Alibaba raises $317M from sale of stake in Xpeng, Bloomberg says
- Alibaba unit said to sell 33M XPeng ADRs to raise $316.8M, Bloomberg reports
- XPeng named ‘Research Tactical Idea’ at Morgan Stanley
