EV makers XPeng, Nio shares pricing in high expectations after recent rally: UBS

Investing.com10-09

Investing.com -- Shares of Chinese EV makers XPeng (NYSE:XPEV) and Nio (NYSE:NIO) are pricing in high expectations following a recent rally, according to a note from UBS on Wednesday. The investment ...

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According to UBS, these valuations assume that both companies will gain significant market share and achieve high-single-digit net margins in the coming years, without the need for further equity refinancing.\"While such a scenario is possible, we think it will be difficult to achieve, especially considering fierce competition from larger and more cost-effic","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4504":"桥水持仓","BK4099":"汽车制造商","BK4563":"昨日强势股","BK4548":"巴美列捷福持仓","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK4532":"文艺复兴科技持仓","BK4531":"中概回港概念","BK4534":"瑞士信贷持仓","LI":"理想汽车","BK4585":"ETF&股票定投概念","BK4555":"新能源车","BK4509":"腾讯概念","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","NIO":"蔚来","BK4588":"碎股","BK4526":"热门中概股","09866":"蔚来-SW","BK4503":"景林资产持仓","BK4574":"无人驾驶","NIO.SI":"蔚来","BK4551":"寇图资本持仓","LU0052750758.USD":"富兰克林中国基金A Acc","XPEV":"小鹏汽车","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","BK4505":"高瓴资本持仓","BK4581":"高盛持仓"},"translate_title":"瑞银：电动汽车制造商小鹏汽车、蔚来汽车在近期上涨后对定价抱有很高的预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XPEV":0.9,"NIO.SI":0.9,"NIO":0.9,"LI":0.7,"EVS.SI":0.6,"09866":0.6},"content_text":"Investing.com -- Shares of Chinese EV makers XPeng (NYSE:XPEV) and Nio (NYSE:NIO) are pricing in high expectations following a recent rally, according to a note from UBS on Wednesday. \nThe investment bank said the broader China auto sector has surged 30-50% over the past month, driven by a series of monetary and fiscal policy loosening measures. \nAs a result, Chinese automakers now represent 13% of the global car market capitalization, up from 9% just two months ago, though still moderate compared to their 20% share of the global car market and 60% share of the EV market, explains UBS.\nHowever, the bank’s analysts caution that XPeng and Nio, both rated Neutral, are trading at high valuations. \nXPeng is priced at 1.5x 2025E price-to-sales (P/S), while Nio is at 1.1x. According to UBS, these valuations assume that both companies will gain significant market share and achieve high-single-digit net margins in the coming years, without the need for further equity refinancing.\n \"While such a scenario is possible, we think it will be difficult to achieve, especially considering fierce competition from larger and more cost-efficient companies, such as BYD (SZ:002594) and Li Auto (NASDAQ:LI),\" UBS wrote.\nUBS remains bullish on other Chinese automakers like CATL and GWM, which they believe offer more attractive valuations. \nCATL, trading at 20.7x 2025E price-to-earnings (PE), is seen as well-positioned to benefit from Europe's accelerating electrification, while GWM, at 7.9x 2025E PE, has growth potential from domestic premiumization and international expansion, says the bank.\nUBS advises investors to be selective within the Chinese auto sector, with CATL and GWM as their most preferred stocks. They remain on the sidelines when it comes to XPeng and Nio due to their high valuation expectations.\nRelated Articles\nEV makers XPeng, Nio shares pricing in high expectations after recent rally: UBS\nUS stocks edge lower ahead of Fed minutes; Google faces break-up\nInsider Trading Activity Heats Up: Tuesday's Top Buys and Sells in US Stocks","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474226402"}