What's Going On With XPeng Stock?
Portfolio Pulse from Erica Kollmann
XPeng Inc - ADR (NYSE:XPEV) shares are trading higher after China's National Development and Reform Commission (NDRC) pledged to optimize the business environment for private enterprises. This announcement has led to a rise in Chinese companies' stocks, including XPEV. Despite a recent downgrade from JP Morgan analyst Nick Lai, XPEV's price target was raised from $7.5 to $10. XPEV shares have gained more than 47% over the last month.
July 24, 2023 | 5:38 pm
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XPeng Inc's shares are trading higher due to China's pledge to optimize the business environment for private enterprises. The stock has gained more than 47% over the last month.
The rise in XPEV's stock price is directly linked to China's pledge to optimize the business environment for private enterprises. This announcement has increased investor confidence in Chinese companies, leading to a rise in their stock prices. Despite a recent downgrade from JP Morgan, XPEV's price target was raised, further boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100