XPeng assumed at Buy from Neutral at Nomura

Nomura upgraded XPeng (XPEV) to Buy from Neutral with a price target of $30, up from $14, as the analyst assumed coverage of the stock. Starting with the launch of the Mona MO3 and P7+, the firm sees XPeng staring a “strong business cycle” driven by technology upgrades and cost cutting efforts, the analyst tells investors.