Citi keeps a Sell rating on XPeng with Target Price USD 15

Despite the Didi collaboration, this analyst keeps a sell rating. Recently Xpeng announced a disappointing Q2 2023 earnings. Read here for more details:
Xpeng shares drop 7% after the Chinese electric car maker posts a record quarterly loss

Quote:

Citi keeps a Sell rating on XPeng with a $15 price target after the company said it will issue A-class ordinary shares to acquire assets related to DiDi’s smart electric vehicle project. The firm attributes the share price rally of Xpeng today to the partnership with DiDi and potentially deeper cooperation between Xpeng and Nvidia (NVDA). However, Citi expects Xpeng’s G6 has undelivered orders close to 30,000 units at present.

Citi keeps a Sell rating on XPeng with Target Price USD 15

Source:

Citi keeps Sell rating on XPeng after DiDi strategic partnership - Tipranks

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