Deutsche Bank research analyst Bin Wang has expressed confidence in Xpeng's (XPEV, Financial) ability to sustain robust sales throughout the remainder of the year. Wang highlighted that Xpeng's vehicle deliveries in September saw a substantial year-over-year increase of 39%, marking the highest monthly delivery figure since the company's inception. This surge was primarily driven by strong market demand for the Mona M03 model.
Wang projects that Xpeng will deliver 11,000, 15,000, and 20,000 units of the M03 model in October, November, and December, respectively. The analyst has reaffirmed a buy rating on the stock and raised the target price from HKD 55.00 to HKD 67.00. Despite these positive projections, the stock experienced a 12% decline, closing at HKD 48.55.
