XPeng price target raised to $22 from $21 at Bernstein

Bernstein raised the firm’s price target on XPeng (XPEV) to $22 from $21 and keeps a Market Perform rating on the shares. The company reported its first ever profit in Q4 and its Q1 guidance points to a strong March recovery, the analyst tells investors in a research note. However, Bernstein thinks the company’s ambition to become a “global leader in physical AI agents” may not resonate with investors when its core electric vehicle business remains under pressure.