Barclays raised the firm’s price target on XPeng (XPEV) to $20 from $7 and keeps an Underweight rating on the shares. The company’s Vehicle deliveries in Q4 and so far in Q1 are more than three-times the volume seen in the first half of 2024, the analyst tells investors in a research note. The firm says XPeng’s model refresh and new product launch momentum is strong in 2025. However, the stock’s valuation is “stretched” after the rally in recent months, contends Barclays.
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