From Yahoo Finance: 2025-05-22 18:11:00

BofA raised XPeng Inc.’s price target from $27 to $29 after the company exceeded revenue and earnings estimates for Q1. The company’s strong performance was driven by FX gains and government subsidies, with total revenues reaching $2.20 billion.

XPeng achieved a record 94,008 vehicle deliveries in Q1, up 331% YoY. The company expects robust growth in Q2 with the launch of new models, projecting profitability in Q4. XPeng primarily targets the mid to high-end segment in China’s passenger vehicle market, focusing on Smart EVs like the G3 and P7.

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Read more: BofA Maintains Buy Rating on XPeng (XPEV) Following Q1 Report