Jefferies on Monday reiterated a Buy rating and $29 price target on XPeng, saying the Guangzhou-based carmaker is “poised for breakout growth.”
The firm expects the company led by He Xiaopeng to post its first profitable quarter in the last three months of 2025.
“XPeng’s 1H25 results defied expectations, led by strong margins from economies of scale,” analyst Alexious Lee wrote in a note after hosting the company’s post-result non-deal roadshow (NDR) in Hong Kong.
In a new note obtained by PriceTarget, Lee added that Jefferies sees a “clear path to profitability by 4Q25” as the new models ramp up.
The brokerage said XPeng’s “tech DNA” — spanning product innovation, AI leadership and global expansion — provides a key differentiator among Chinese EV makers.
The company’s founder and CEO He Xiaopeng last week purchased 3.1 million XPeng shares at an average price of HK$80.49 through Galaxy Dynasty Limited, according to a Hong Kong Stock Exchange filing.
The move follows a personal acquisition of 1 million shares a year ago at an average of HK$27.13 and takes Xiaopeng’s ownership to 18.9%.
Jefferies’ analyst said “the chairman’s buyback shows confidence in XPeng’s trajectory.”
The stock touched a five-month high last week, having surged nearly 87% since the beginning of 2025 and more than tripled over the past year. It previously peaked at $27.16 in early March.
The latest call comes ahead of XPeng’s planned launch of its updated P7 sedan on Wednesday, August 27. The exact date of the event was revealed earlier this Monday by the company on social media.
According to He Xiaopeng, the P7 became XPeng‘s most pre-ordered vehicle since it arrived in the EV segment 11 years ago.
Other brokerages have also weighed in following XPeng’s second-quarter earnings last week.
Macquarie cut its price target on the automaker’s Hong Kong-listed shares to HK$98 from HK$99 while keeping an Outperform rating, implying a 21.1% upside.
Citi, meanwhile, lifted its target to HK$114.80, suggesting a potential 41.9% gain, while maintaining a Buy rating.
XPeng began rolling out a new software update on Monday, bringing improvements to its assisted driving software, but also to entertainment and other areas.
