XPeng shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight but raised its price target from $7.5 to $10.
Portfolio Pulse from Benzinga Newsdesk
JP Morgan has downgraded XPeng's stock from Neutral to Underweight, but increased its price target from $7.5 to $10. This has resulted in XPeng shares trading lower.
July 21, 2023 | 4:08 pm
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NEGATIVE IMPACT
XPeng's stock has been downgraded by JP Morgan from Neutral to Underweight, causing a decrease in share price. However, the price target has been raised from $7.5 to $10.
The downgrade of XPeng's stock by JP Morgan from Neutral to Underweight indicates a negative outlook for the stock, which has led to a decrease in share price. However, the increase in price target from $7.5 to $10 suggests that JP Morgan sees potential for growth in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100