BofA analyst Ming Hsun Lee upgraded XPeng (XPEV) to Buy from Neutral with a price target of $22, up from $16.30. XPeng’s cooperation with Volkswagen (VWAGY) endorses the company’s autonomous driver capabilities, which improves its financial position and likely enhances its supply chain management, the analyst tells investors in a research note. The firm now expects Xpeng to turn a profit in 2025 versus a net loss in its previous forecast. It believes the company’s improving cost structure and VW pact will drive positive free cash flow in 2025.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on XPEV:
- XPeng (NYSE: XPEV) Receives Major Boost as Bank of America Analyst Turns Bullish
- XPeng, Inc. ADR Reports Earnings: Did it Beat Estimate Forecasts?
- XPeng falls -7.9%
- XPeng (NYSE: XPEV) Delivers an Earnings Rollercoaster in Q2
- XPeng sees Q3 revenue growth of 24.6%-31.9%
Questions or Comments about the article? Write to editor@tipranks.com