Barclays raised the firm’s price target on XPeng (XPEV) to $20 from $7 and keeps an Underweight rating on the shares. Vehicle deliveries in Q4 and so far in Q1 are more than triple the volume seen in the first half of 2024, while a model refresh and new product launch momentum looks “strong” in 2025. However, the valuation looks “stretched” after a share price jump in recent months, keeping the firm on the sidelines, the analyst tells investors.
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