XPeng races to new high as investors bet on long-term upside

Nov. 05, 2020 10:12 AM ETXPeng Inc. (XPEV)By: Clark Schultz, SA News Editor

XPeng Motors (NYSE:XPEV) is up another 15.05% as investor interest in the Chinese automaker remains red hot. Shares printed a new high of $33.20.
XPeng also caught the attention of Bank of America earlier today, with a price objective boost to $31.
"We raise our 2020-21E volume sales by 13%/6% to reflect stronger volumes in 3Q20- October, and robust order wins, owing to positive feedback of P7 and upgraded Xmart OS. We also lower our 2021-22E net loss by 16%/34% as we believe XPeng will control opex strictly. We roll over our EV/sales base from an average of 2021-22E to 2022E, benchmarking our valuation on BYD (peer)."
BofA likes the long term set-up on XPeng with a "robust" model pipeline set up out to 2023 and the automaker's superior powertrain capability.

https://seekingalpha.com/news/3632269-xpeng-races-to-new-high-investors-bet-on-long-term-upside