Morgan Stanley analyst Tim Hsaio raised the firm’s price target on XPeng (XPEV) to $28 from $26 and keeps an Overweight rating on the shares. Constant competition risk and year-to-date stock outperformance “may aggravate near-term volatility,” but the firm stays constructive on XPeng’s model pipeline and AI-related initiatives, the analyst tells investors. The firm views the G7, powered by the AI Turing chip, which XPeng launched at a pre-sale price of Rmb 235,800, as “just the first step in pioneering a breakthrough,” the analyst added.
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