As previously reported, UBS analyst Paul Gong downgraded XPeng (XPEV) to Sell from Neutral with a price target of $8.80, up from $8.20. The share price has risen over 50% since September as the newly launched MONA MO3 and P7+ reported higher-than-expected early orders and deliveries, notes the analyst, who argues that new launch momentum and EREV potential are now “overly priced in.”
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on XPEV:
- XPeng call volume above normal and directionally bullish
- Li Auto (LI) Stock is Vastly Under Appreciated by Investors
- Charged: Tesla upgraded with ‘world changed’ after Trump election
- XPeng Shares Charge Ahead with Record November Sales
- XPeng delivered 30,895 Smart EVs in November 2024, up 54% year-over-year
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
