Citi analysts are bearish on XPeng stock despite profit beat and VW partnership.

From Investing.com: 2024-05-22 13:45:07

Citi analysts maintain a bearish view on XPeng Inc. despite beating profit and revenue expectations in Q1. The company reported an EPS of (RMB0.75) and revenue of RMB6.55 billion. Citi upgraded the price target to $7.70 per share, citing the Volkswagen technology fee payment and stabilized vehicle margins. However, they caution against assigning an aggressive P/S multiple.



Read more at Investing.com: Why Citi remains bearish on XPeng stock despite VW partnership By Investing.com