XPeng, Inc. (XPEV) said that it recorded the highest-ever monthly deliveries of smart electric vehicles (EVs) in September 2021. The company engages in designing, developing, manufacturing and marketing of smart EVs.
During the month, XPeng delivered 10,412 vehicles, marking a 199% year-over-year and 44% sequential growth. Markedly, the total number included 7,512 deliveries of P7s (sports smart sedan), 2,656 deliveries of G3s (smart compact SUV) and 244 P5s (smart family sedans).
For the quarter ended September 30, 2021, total deliveries stood at 25,666, up 48% quarter-over-quarter and 199% year-over-year. (See XPeng stock charts on TipRanks)
Last month, Deutsche Bank analyst Edison Yu maintained a Buy rating on XPeng with a price target of $51 (43.5% upside potential).
Yu expects XPeng to report a loss of $1 per share for the third quarter of this year.
On August 28, another analyst, Bank of America Securities’ Ming-Hsun Lee, maintained a Buy rating on the stock and raised the price target to $61 from $56 (71.6% upside potential).
Overall, the Street is bullish on the stock and has a Strong Buy consensus rating based on 6 unanimous Buys. The average XPeng price target of $56 implies upside potential of about 57.6%.
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