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<Research>G Sachs Downgrades XPENG-W (09868.HK) to Neutral, Hikes TP to $49
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Goldman Sachs, in a research report, downgraded XPENG-W (09868.HK)(XPEV.US)'s H-share and US shares from Buy to Neutral. The stock outperformed its peers in the past 2 months with H-shares and US-shares up 83% and 67% respectively, mainly due to strong new orders and deliveries. Although the company plans to launch at least four new car models next year and projects sales growth of 81% YoY, the broker remains cautious that fierce competition in the industry will continue into next year. Goldman Sachs also raised its target price for H-share and US-share by 7% each to HKD49 and USD12.5 respectively. AAStocks Financial News |
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