BofA raised the firm’s price target on XPeng (XPEV) to $26 from $25 and keeps a Buy rating on the shares. The company’s vehicle margin improved in Q2 on better product mix, supply chain optimization and economies of scale, the analyst tells investors in a research note. BofA upped its volume estimates through 2027 with XPeng’s new P7 scheduled to launch on August 27.
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