Bernstein SocGen cuts XPeng stock price target on wider losses
Bernstein lowered XPeng's stock price target to $18.00 from $20.00, citing wider losses. The company reported a net loss of RMB 1.3 billion and a net margin of negative 6.8%. Despite this, XPeng's adjusted EPS was negative $1.29, falling short of Wall Street estimates. Revenue was $19.74 billion, below the expected $20.57 billion.
The firm maintained a Market Perform rating, acknowledging strong delivery growth and stable gross margins. However, the vehicle margin remained weak, and the company is investing heavily in new programs and AI development.
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