Nio And XPeng Shares Are Trading Higher: What's Going On?
Portfolio Pulse from Erica Kollmann
Shares of NIO, Inc. (NYSE:NIO) and XPeng, Inc. (NYSE:XPEV) are trading higher amid strength in Chinese EV names. CLSA upgraded XPeng from a Buy rating to an Outperform rating and raised the price target from $10 to $13.10. XPeng also launched its G6 Ultra Smart Coupe SUV with deliveries expected to begin in July. Nio's shares have gained over 15% in the last week and nearly 30% over the last month after launching its first smart electric tourer, the ET5T.
June 30, 2023 | 5:25 pm
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Nio's shares are trading higher, adding to gains of over 15% in the last week and nearly 30% over the last month after launching its first smart electric tourer, the ET5T.
Nio's shares are trading higher due to the successful launch of its first smart electric tourer, the ET5T, which has boosted investor confidence in the company's growth prospects.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
XPeng's shares are trading higher after CLSA upgraded the company from a Buy rating to an Outperform rating and raised the price target from $10 to $13.10. The company also launched its G6 Ultra Smart Coupe SUV.
XPeng's shares are trading higher due to the positive analyst rating from CLSA and the launch of its new SUV, which are likely to boost investor confidence in the company's growth prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90