Deutsche Bank Reiterates Buy Rating on XPeng (XPEV) After Hosting Investor Meetings
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Deutsche Bank analyst Edison Yu reiterated a Buy rating on XPeng (NYSE: XPEV) after hosting XPeng's Managing Director of Strategy Charles Zhang for virtual investor meetings where management demonstrated confidence about its demand trajectory.
The analyst stated "while supply chain could be tight in some areas, XPeng does not foresee any meaningful impact to its product launch schedule this year. Looking ahead, the company indicated its XPILOT autonomy software is making fast progress with expanded L3 capabilities coming in early 2022 (including major city roads) using LiDAR and then more complete city-pilot functionality in 2023. Regulation is still evolving about L4 but the government appears open-minded about future deployment and liability is typically always with the driver. Another aspect of the regulatory situation in China is that take-rates for the software package are also trending upwards in 1Q above 20% after the launch of cheaper LFP trims."
Shares of XPeng closed at $38.05 yesterday.
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