Wall Street Analysis on XPeng Stock Price Prospects
XPeng Stock Price Analysis
The electric vehicle (EV) manufacturer XPeng (NYSE: XPEV) has been experiencing a significant decline in its stock price. At present, XPeng is valued at $7.14, showing an 11.85% loss over the past five days and a 25.15% decline over the previous month. The year-to-date performance indicates a substantial decrease of 47.65%. The stock price rose by more than 3% during pre-market trading to $7.39, potentially driven by a collaboration with Volkswagen.
Wall Street Weighs in on XPeng Stock
Despite the recent decline, Wall Street analysts are bullish on XPeng's future growth. 13 analysts recommend purchasing the stock, with an average price target of $13.08 over the next 12 months, indicating a potential gain of 83.19%. TipRanks data suggests further positive outlook, with price forecasts ranging from $7.30 to $18.70. However, there are also cautious views, as some analysts suggest holding or selling the asset.
Analysts' Concerns
Analysts are positive on XPeng's strategy of launching more affordable cars but express concerns about meeting production demand and facing intense competition in the targeted price range.
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