Analyst Jeff Chung of Citi maintained a Buy rating on XPeng, Inc. ADR, retaining the price target of $29.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Jeff Chung’s rating is based on several compelling factors that highlight XPeng, Inc.’s strategic positioning and potential for growth. The recent launch of the G7, a mid-size BEV-SUV, has shown promising initial demand with over 10,000 non-refundable orders shortly after its release. This indicates a strong market interest and potential for sustained sales, despite the vehicle’s middle-of-the-road performance compared to competitors.
Furthermore, the G7’s advanced features, such as its ADAS capabilities powered by Turing AI chips, position it as a technologically advanced option in the market. The strategic partnership with NVIDIA and the planned adoption of high-performance chips for future models suggest a commitment to innovation. Additionally, the attractive user benefits offered to early adopters of the G7 Max/Ultra models enhance the value proposition for consumers. These elements, combined with an expected share price return of 53.8%, underpin Jeff Chung’s Buy rating for XPeng, Inc.
According to TipRanks, Chung is an analyst with an average return of -5.3% and a 35.48% success rate. Chung covers the Consumer Cyclical sector, focusing on stocks such as BYD Co, XPeng, Inc. ADR, and Nio.