Chinese stocks have taken a beating in 2021. There have been several reasons for the overall lackluster performance, but Deutsche Bank’s Edison Yu thinks the “largest overhang” has been down to investors reluctance to commit following the Chinese authorities’ crackdown on ride-hailing service Didi. While Chinese electric vehicle (EV) stocks have generally held up better than other segments, they have also underperformed, despite improving fundamentals. Yu, however, senses “sentiment could be bottoming going into year-end,” which could be good news for EV maker XPeng (XPEV). Ahead of the company’s anticipated mid-November Q3 earnings, Yu expects “upside from higher volume.
https://www.tipranks.com/news/article/xpeng-strong-sales-and-outlook-merit-a-price-target-raise?utm_source=advfn.com&utm_medium=referral
XPeng (NYSE:XPEV)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more XPeng Charts.
XPeng (NYSE:XPEV)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more XPeng Charts.