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<Research>CMSI Raises XPENG-W (09868.HK) TP to $50 as Strong New Car Sales Boost Product Cycle Certainty
Recommend 28 Positive 33 Negative 21 |
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CMSI wrote in its recent report that increased subsidies are driving peak season effects with high flexibility in economical new energy vehicles, benefiting BYD COMPANY (01211.HK) and GEELY AUTO (00175.HK) the most. In addition, the A-class car market has a capacity of nearly 8 million units with low new energy penetration. Following BYD Yuan Plus, new car sales of Geely Galaxy E5 and XPENG-W (09868.HK)'s Mona 03 surged. With A-class pure electric vehicles offering high cost-performance and high intelligence advantages, they started to capture market share from fuel vehicles. CMSI also noted that policy boosts and peak season effects are improving the outlook for 4Q, favoring companies like BYD COMPANY and GEELY AUTO that benefit from policies and new car cycles. Furthermore, the strong sales of XPENG-W's new Mona model enhanced product cycle certainty with the valuation of the base period shifted forward. The broker raised the TP for XPENG-W from $36 to $50. AAStocks Financial News |
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