What's Going On With XPeng Stock?
Portfolio Pulse from Erica Kollmann
XPeng, Inc. (NYSE:XPEV) shares are trading higher after the company reported strong vehicle delivery figures for June and the first half of 2024. XPeng delivered 10,668 Smart EVs in June, a 24% increase year-over-year, and 52,028 Smart EVs in the first half of 2024, a 26% increase from last year. The company also debuted the M03 model in its Mona series. Despite the positive news, analysts have a cautious outlook with an average 12-month price target of $7.65.
July 03, 2024 | 4:30 pm
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XPeng shares are trading higher due to strong vehicle delivery figures for June and the first half of 2024. The company delivered 10,668 Smart EVs in June, a 24% increase year-over-year, and 52,028 Smart EVs in the first half of 2024, a 26% increase from last year. Despite the positive news, analysts have a cautious outlook with an average 12-month price target of $7.65.
The strong delivery figures for June and the first half of 2024 are driving the stock higher. However, the cautious analyst outlook with a price target below the current trading price suggests limited upside potential in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100