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Xpeng Stock |
Owner and operator of an intelligent and electric automobile manufacturing company intended to build smart electric cars for the younger generations. The company’s vehicles include features such as a central touchscreen, advanced driver-assistance systems and super charging, enabling customers to enjoy smokeless driving that is fast yet sustainable and affordable.
hy Shares of XPeng, Li Auto, and Kandi Technologies Are Higher Today
John Gordon 16, 2020 at 2:31PM
What happened?
Shares of several Chinese electric-vehicle makers were trading higher on Monday, after a Wall Street analyst raised price targets for two of the stocks in the group and gave one an upgrade.
Here’s where things stood for these three companies as of 2 p.m. EST, relative to their closing prices on Friday.
Kandi Technologies (NASDAQ:KNDI) was up about 12.1%
Li Auto (NASDAQ:LI) was up about 15.6%.
XPeng Motors (NYSE:XPEV) was up about 6.1%
So what to do?
Citibank analyst Jeff Chung had bullish takes on both Li Auto and XPeng in a new note on Chinese electric-vehicle stocks on Monday.
Chung upgraded Li Auto to buy from neutral, and boosted his price target for the shares to $45.60 from $27.10. He maintained his previous buy rating on XPeng, but boosted that price target as
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• A WALL STREET ANALYST SEES MONTHLY DELIVERIES OF XPENG’S P7 SEDAN BREAKING 3,000 EARLY NEXT YEAR. IMAGE SOURCE: XPENG MOTORS.
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• Chung noted that sales momentum for what the Chinese government refers to as “new energy vehicles” — electrics and hybrids — has remained strong since China’s COVID-19 pandemic faded in the spring. He expects that momentum to continue into the first quarter of 2021, with the overall sector’s sales up more than 100% year over year.
