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<Research>JPM Upgrades XPENG-W (09868.HK) to Overweight, Raises TP to $45
Recommend 7 Positive 13 Negative 8 |
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JPMorgan upgraded XPENG-W (09868.HK) (XPEV.US) from Neutral to Overweight in its research report. The broker expected that the new models Mona M03 and P7 plus to be launched in 4Q would boost quarterly deliveries to about 80,000 vehicles from about 45,000 vehicles in 3Q, contributing to higher sales throughout 2025 and thereby enhancing the company's valuation. Looking ahead to next year, JPMorgan is currently estimating that with the launch of more new models, XPENG-W's sales volume could further exceed about 300,000 vehicles, logging a 72% increase from this year's full-year forecast of 180,000 vehicles. The broker raised the TP for XPENG-W to $45 from $31 in light of the relatively low visibility of the company's business prospects amid the competitive landscape. AAStocks Financial News |
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