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Benzinga
Benzinga
Business
Rachit Vats

Cathie Wood-Backed Tesla Rival Xpeng Gets A 7% Lower Price Target But Why Analyst Is Still Bullish

Tesla Inc. (NASDAQ:TSLA) rival Xpeng Inc (NYSE: XPEV) is expected to overcome near-term COVID-19 lockdown challenges in China on resilient demand, US Tiger Securities Inc said, after the Guangzhou-based electric vehicle maker posted a disappointing delivery forecast for the current quarter.

The Xpeng Analyst: Analyst Bo Pei has maintained a ‘buy’ rating on the stock but lowered his price target to $40 from $43 — the second such cut since March.

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