XPeng price target raised to $26 from $25 at BofA

BofA analyst Ming Hsun Lee raised the firm’s price target on XPeng (XPEV) to $26 from $25 and keeps a Buy rating on the shares after the company reported a bottom line beat in Q2 with a non-GAAP net loss of RMB 385M, better than the firm’s RMB 559M net loss estimate. Following the quarterly report, the firm lowers its 2026 non-GAAP net profit forecast by 2%, but lifts its 2027 non-GAAP net profit view by 20%, the analyst noted.