JPMorgan Chase & Co. upgraded shares of XPeng (NYSE:XPEV – Free Report) from a neutral rating to an overweight rating in a report published on Thursday morning, Marketbeat.com reports. They currently have $11.50 target price on the stock, up from their prior target price of $8.00.
Several other analysts have also recently issued reports on the company. Daiwa America upgraded XPeng to a strong-buy rating in a report on Thursday, May 23rd. Macquarie upgraded shares of XPeng from a neutral rating to an outperform rating in a report on Friday, August 30th. Daiwa Capital Markets upgraded XPeng from a neutral rating to a buy rating and set a $11.00 target price on the stock in a research report on Thursday, May 23rd. Bank of America cut their price objective on XPeng from $11.00 to $10.00 and set a buy rating for the company in a research report on Wednesday, August 21st. Finally, Citigroup lowered their target price on shares of XPeng from $8.30 to $7.60 and set a neutral rating for the company in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Buy and an average target price of $12.08.
Read Our Latest Analysis on XPEV
XPeng Stock Performance
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of XPeng by 25.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,550 shares of the company’s stock worth $154,000 after buying an additional 2,151 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of XPeng in the 4th quarter valued at $326,000. Norges Bank purchased a new stake in shares of XPeng during the 4th quarter worth $41,993,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of XPeng during the 4th quarter worth about $527,000. Finally, Primecap Management Co. CA raised its position in shares of XPeng by 5.3% during the 4th quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock worth $182,343,000 after acquiring an additional 624,926 shares in the last quarter. 23.05% of the stock is owned by institutional investors and hedge funds.
About XPeng
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.
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