Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | X
Macquarie Analyst issued a new research note on Monday resuming the firm’s coverage on Nio and Xpeng shares with a Neutral Rating. Macquarie set a $5 price target on Nio stock and $7 on the shares of the Guanghzou-based manufacturer Xpeng.
While acknowledging the challenges in near-term volumes, the firm highlights that Nio has reached a stage where significant upfront investments in battery swapping and service centers give it a competitive advantage. Based on the last closing price, the price target implies an upside potential of 21.65 percent of Nio stock.
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Regarding Xpeng, Macquarie notes that although the brand’s mass-market launches will contribute, scale remains Xpeng’s primary challenge. The company is concerned that intense competition in its core BEV price segments will hinder its ability to gain market share, according to the analyst’s note to investors. Based on Friday’s closing price, the price target implies a downside potential of 6.16 percent on the shares.
Xpeng, the Chinese electric vehicle (EV) manufacturer, is set to commence deliveries of its smallest SUV, the G6, across Europe, with high expectations riding on its performance. The Managing Director in Norway Claes Persson set up a clear target of “quadrupling the sales in Norway in 2024 compared to 2023” while adding that the G6 SUV “will account for half of the sales”.
A couple of days after announcing the expansion to Spain and Portugal, the Chinese EV brand Xpeng revealed last week that signed a dealer partnership with Sime Darby Motors in Hong Kong and with Xin Kang Heng Holding in Macau.
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As reported exclusively by EV on April 9th, Nio will unveil the 2024 version of its flagship sedan at the upcoming Auto Show. The EV manufacturer will showcase its entire 2024 model lineup with particular attention drawn to the 2024 ET7. Additionally, updated versions of the smaller sedan ET5 and the flagship 5-seater SUV ES7 (EL7 in Europe) will be presented for the first time too.
Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | X
