XPeng's G6 EV Will Drive High Growth In Vehicle Sales: Goldman Sachs
Portfolio Pulse from Nabaparna Bhattacharya
Goldman Sachs analyst Tina Hou reiterated a Buy rating on XPeng Inc. (NYSE:XPEV) with a price forecast of $11.50. XPeng reported fiscal first-quarter sales growth of 62.3% year-on-year, beating analyst estimates. The company's adjusted net loss per ADS also beat expectations. The analyst expects the G6 model launch to drive vehicle delivery volume and margin improvements. XPeng's strong R&D focus and leading position in NOA could provide further revenue growth and margin improvement.
May 22, 2024 | 4:39 pm
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Goldman Sachs analyst Tina Hou reiterated a Buy rating on XPeng Inc. (NYSE:XPEV) with a price forecast of $11.50. XPeng reported strong fiscal first-quarter sales growth and beat analyst estimates for adjusted net loss per ADS. The G6 model launch is expected to drive vehicle delivery volume and margin improvements.
The reiteration of a Buy rating and a price forecast of $11.50 by Goldman Sachs is a strong positive signal for XPeng Inc. The company's strong fiscal first-quarter sales growth and better-than-expected adjusted net loss per ADS are likely to boost investor confidence. Additionally, the G6 model launch is expected to drive vehicle delivery volume and margin improvements, further supporting the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100