XPeng US Stocks Gained 9.68% While HK Stocks Rose 6% on BofA Upgrade

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XPeng US Stocks Gained 9.68% While HK Stocks Rose 6% on BofA Upgrade

InvestorPlace2023-08-22

XPeng (NYSE:XPEV) stock got a boost on Monday after Bank of America analyst Ming Hsun Lee upgraded the electric vehicle (EV) company’s shares.That upgrade has the rating for XPEV stock at the firm ...

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King19
·2023-08-22
Keep buying
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 XPeng’s AD capability is endorsed. We estimate it to record annual technology service income of RMB200-300mn per annum in 2024-25;  XPeng could manage cost better through larger scale procurement and stronger supply chain shared with VW.”Its US stocks gained 9.68% on Monday while HK stocks rose 6.13%.","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"09868":"小鹏汽车-W","XPEV":"小鹏汽车"},"translate_title":"美国银行上调XPeng美国股市上涨9.68%，香港股市上涨6%","themeId":"3f0205d455d44b1daf1b878ad762039f","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"09868":1.1,"XPEV":1.1},"content_text":"XPeng (NYSE:XPEV) stock got a boost on Monday after Bank of America analyst Ming Hsun Lee upgraded the electric vehicle (EV) company’s shares.That upgrade has the rating for XPEV stock at the firm increasing from a “neutral” rating to a “buy” rating. For the record, the analyst consensus rating for XPEV shares is a “hold” based on 13 opinions.To go along with that upgrade, the Bank of America analyst set a price target of $22 per share for XPEV stock. That represents a potential upside of 49% over the next 12 months compared to Friday’s close. It’s also sitting above the analyst consensus price prediction of $15.43 per share.Why the Bullish Stance on XPEV Stock?Lee listed the following benefits for XPEV stock in a note to clients obtained by CNBC:“(1) investors’ concerns over XPeng’s fast cash burn will be lower, which supports valuation; (2) XPeng’s AD capability is endorsed. 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