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<Research>UOB Kay Hian Cuts XPENG-W TP to $125 as Higher R&D Expenses Offset Delivery Growth
Recommend 7 Positive 11 Negative 0 |
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In its report, UOB Kay Hian said that XPENG-W (09868.HK) purportedly set a delivery target of 550,000-600,000 vehicles for 2026, representing a YoY increment of 28-40%. This target was based on a strong product lineup and doubled export volume, which beat the broker's estimates. The broker revised its 2026 delivery estimate upward by 7% to 530,000 vehicles. Based on higher R&D expenses, the broker chopped its net profit forecasts for XPeng for 2026 and 2027 by 39% and 6%, respectively. It maintained a Buy rating, but lowered the target price from HKD145 to HKD125. AASTOCKS Financial News Website: www.aastocks.com |
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