Citi is Bullish on XPeng Inc. (XPEV)

robot
Abstract generation in progress

Citi analyst Jeff Chung reiterated a Buy rating on XPeng Inc. (XPEV) but slightly reduced its price objective to $27.60, expecting the company to deliver 1,000 humanoid robots in the last quarter of the year. JPMorgan also adjusted its price target for XPEV to $34 from $50, maintaining an Overweight rating, citing a slowdown in China’s auto industry. XPeng recently implemented a new charge payment feature in Hong Kong and reported strong Q4 results with RMB20.38 billion in sales and a 20.1% gross margin.

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