Written by Cláudio Afonso | LinkedIn | X
Goldman Sachs analyst Tina Hou updated on Wednesday the firm’s price target on Nio and XPeng’s Hong Kong-listed shares. Hou has maintained the Neutral rating on Nio and a Buy rating on XPeng.
The analyst raised the price target on Nio by nearly 12% to HK$38.00 (from HK$34.00).
The stock closed at HK$43.80 on Wednesday, about 15% above the new price target from the bank analyst. On Thursday, Nio Hong Kong-listed shares drop 4.2% to HK$41.95.
Regarding the Guangzhou-headquartered EV maker XPeng, the firm raised the price target to HK$46.00 from HK$41.00, an increase of about 12%.
According to the latest registration figures released on Wednesday by Li Auto, Nio registered 4,700 electric vehicles between October 7 and 13, representing a 4% (200 units) increase from the previous week.
XPeng saw its registrations jump 39% from the first week of October to 3,900 units.
On Monday, XPeng CEO He Xiaopeng unveiled the pre-sale price of the company’s new flagship sedan, the P7+.
In a press conference held at the Paris Auto Show, the founder and chief executive said the model has a pre-sale price of 209,800 yuan, equivalent to $29,600. Less than two hours later, the brand said it received 30,000 pre-sale orders for the model with first deliveries expected to take place in November.
Earlier this week, China’s Ministry of Industry and Information Technology (MIIT) published the latest catalog where Nio’s new flagship sedan ET9 is included.
The model is set to begin deliveries in China in the first quarter of 2025, but the timeline for its launch in other markets, including the Middle East and Europe, is still unknown.
Written by Cláudio Afonso | LinkedIn | X
