eastwest connect

Xpeng: stock target price raised to US$14.5 with outperform rating by Credit Suisse after survey in Hangzhou and Shenzhen indicating significant April new order increase


On May 5, according to Gelonghui, Credit Suisse issued a report stating that inspections of dealers showed that Xpeng new order flow in April improved significantly month-on-month.

According to the bank’s sample survey in Hangzhou and Shenzhen, it is estimated that Xpeng new orders in April reached 14,000 units, compared with 7,079 deliveries in April.

The bank pointed out that considering the stronger-than-expected P7i order volume and increased confidence in the G6 SUV, it raised its earnings per share forecast for 2023 to 2025 by 9.3 to 136.7%. The target price is adjusted upward from $12.5 to $14.5. The stock is rated “Outperform”.