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<Research>CLSA Slashes XPENG-W's TP to HKD77 as Rising Costs Delay Breakeven
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XPENG-W (09868.HK)'s "dual-power strategy" may aid its penetration into northern Chinese cities, according to a CLSA research report. Despite weak domestic automotive demand in 2026, CLSA estimates XPENG-W's vehicle sales to remain resilient, reaching 471,000 units with a 10% YoY growth. However, XPENG-W's progress towards breakeven will be slowed by rising industry raw material costs and additional R&D expenses on AI in 2026. In light of sales pressure, CLSA has trimmed XPENG-W's target price from HKD106 to HKD77 but kept the Outperform rating unchanged. AAStocks Financial News |
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