XPeng downgraded to Sell at UBS following greater than 50% advance

As previously reported, UBS analyst Paul Gong downgraded XPeng (XPEV) to Sell from Neutral with a price target of $8.80, up from $8.20. The share price has risen over 50% since September as the newly launched MONA MO3 and P7+ reported higher-than-expected early orders and deliveries, notes the analyst, who argues that new launch momentum and EREV potential are now “overly priced in.”