An issue of terrible timing just hit electric vehicle stock XPeng (NASDAQ:XPEV) like rush hour traffic: it successfully delivered a shipment of several hundred electric vehicles to Israel. For those already familiar with what’s going on therein, you realize how bad this was and understand why investors just pulled over 11% of XPeng’s market cap out with them in Monday’s trading.
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XPeng sent a combined total of 750 vehicles on this shipment, which represented the single largest export batch this year had seen yet. Both P7 and G9 vehicles were included in a shipment going to Freesbe, who was to serve as XPeng’s sales and service representative in Israel. XPeng previously noted that it was planning to expand its operations into other parts of the Middle East, but those plans may be at least temporarily halted in light of the new war.
XPeng enjoys something of a solid position right now. It’s regarded as one of the most dominant EV stocks in the Chinese market in the midst of conditions that are likely to do a number on the market itself. A combination of rising EV supplies—the South China Morning Post referred to it as a “glut”—as well as declining interest in purchasing electric vehicles is likely to produce less than beneficial conditions for much of the Chinese EV market. Here, the strongest will likely survive, and since XPeng is a dominant figure, it’s likely to be one of those survivors.
What is the Target Price of XPeng?
As a dominant figure in the Chinese EV market, XPeng has plenty of analyst support. XPeng stock is currently considered a Moderate Buy, supported by nine Buy ratings, three Holds, and two Sells. Further, with an average price target of $19.22, XPeng stock offers investors 19.08% upside potential.
