Macquarie analyst Eugene Hsiao lowered the firm’s price target on XPeng (XPEV) to $26 from $32 and keeps an Outperform rating on the shares. 2026 would be a transition year for XPeng as it boosts its product portfolio with four new models potentially in amid slowing China EV demand, the analyst tells investors in a research note. The firm added that net income breakeven could swing widely depending on revenue structure of Volkswagen volume-based fees.
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