Why Citi remains bearish on XPeng (XPEV) stock despite VW partnership
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May 22, 2024 5:47 AM EDT
Bernstein SocGen Group analyst Eunice Lee reiterated a Market Perform rating and $12.00 price target on XPeng (NYSE: XPEV)
The analyst comments "Q1 solid margin improvement. XPeng reported Q1 revenue of RMB 6.5bn, +62.3% YoY, -49.8% QoQ. YoY growth was driven by both volume growth... More
May 22, 2024 5:46 AM EDT
Barclays analyst Jiong Shao reiterated an Underweight rating and $8.00 price target on XPeng (NYSE: XPEV).
The analyst comments "XP 1Q results would have been broadly inline excluding the positive impact from high-margin tech services revenues from VW; first low end Mona... More
May 22, 2024 2:28 AM EDT
By Sarah Wu
BEIJING/SHANGHAI (Reuters) -Shares in Chinese electric vehicle maker Xpeng jumped more than 10% on Wednesday driven by revenue growth from research and development services offered to Volkswagen as well as upbeat comments about its goals for gains in self-driving tech.
Xpeng, which deepened its partnership with VW in April to co-develop EV architecture, said that those R&D services were primarily responsible for its revenue from services nearly doubling to 1 billion yuan ($138 million) in the first quarter from a year ago.
That helped Xpeng's gross margin climb to 12.9% compared with 1.7% a year earlier... More
May 21, 2024 8:19 AM EDT
Morgan Stanley analyst Tim Hsiao reiterated an Overweight rating and $18.00 price target on XPeng (NYSE: XPEV)
The analyst comments "We believe the share price will rise in absolute terms over the next 15 days. This is because of an earnings release. We think... More
May 21, 2024 7:53 AM EDT
(Updated - May 21, 2024 11:56 AM EDT)
Investing.com -- Main U.S. indexes traded largely flat Tuesday, as investors reacted with caution ahead of more speeches from Federal Reserve officials about the potential for future interest rate cuts.
Here are some of the biggest U.S. stock movers today:
Lowes (NYSE: LOW) stock fell 3% despite the home improvement retailer reporting first-quarter net sales that topped expectations, boosted by growth in its online offerings... More
May 21, 2024 6:22 AM EDT
Chinese electric vehicle company XPeng Inc. (NYSE: XPEV) reported a beat on both earnings and revenue for the first quarter of 2024, sending its shares up 5.7% in early Tuesday trading.
The company's first-quarter earnings per share (EPS) came in at -RMB0.75, surpassing the analyst estimate of -RMB2.06. Revenue also exceeded expectations, reaching RMB6.55 billion against a consensus... More
May 21, 2024 5:38 AM EDT
By Zaheer Kachwala
(Reuters) -Xpeng forecast a rise in second-quarter deliveries on Tuesday as price cuts help the electric-vehicle maker to attract more buyers in a competitive Chinese market, sending its U.S.-listed shares 4% higher.
The automaker expects to hand over between 29,000 and 32,000 vehicles, an increase of about 25% to 37.9% from a year earlier, as discounts aid sales of its G6 and G9 electric SUVs.
Xpeng also plans... More
May 21, 2024 5:38 AM EDT
XPeng Inc. (NYSE: XPEV) reported Q1 EPS of (RMB0.75), RMB1.31 better than the analyst estimate of (RMB2.06). Revenue for the quarter came in at RMB6.55 billion versus the consensus estimate of RMB6.19 billion.
GUIDANCE:
XPeng Inc. sees Q2 2024... More
