UPDATE: XPeng Inc. (XPEV) Named Catalyst Call Buy Idea at Deutsche Bank
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(Updated - September 13, 2022 8:07 AM EDT)
XPeng Inc. (NYSE: XPEV) Named Catalyst Call Buy Idea at Deutsche Bank.
Analyst Edison Yu commented, "XPeng has certainly faced a rough few months as we detailed in prior reports. The stock deserves to be down in our view but we anticipate a temporary bounce back with the official launch of the G9 (shares already -33% over the past month vs. NASDAQ -6% and NIO +3%). The flagship SUV has already been shown off (pictures, some specs) but pricing has not been disclosed yet, which we think is a key aspect leading up to start of production/deliveries next month. Should pricing come in around 400k RMB or lower, we think the model should sell well at least for 2-3 quarters, alleviating some demand concerns. Management already disclosed nearly 23k pre-orders in the first 24 hours and a positive update to this number should give reason for investors to be less bearish on the stock."
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