BofA raised the firm’s price target on XPeng (XPEV) to $28 from $27 and keeps a Buy rating on the shares after the company reported Q3 results and highlighted its upcoming VLA 2.0 model will feature ten times the parameters than its previous world model. Factoring in Q3 results and the latest model pipelines, the firm lowers its XPeng’s 2025 volume sales estimate by 1%, but lifts its 2026 and 2027 volume sales forecasts by 3% and 5%, respectively.
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