Goldman Sachs: Maintains "Buy" rating on XPENG-W, lowers target price to HKD 41

Goldman Sachs released a research report stating that it maintains a "buy" rating on XPENG-W, adjusting the forecasted non-GAAP net profit for 2024 to 2026 from an expected loss of RMB 5.4 billion, RMB 6.9 billion, and RMB 5.1 billion to a loss of RMB 6.4 billion, RMB 6.9 billion, and RMB 5.6 billion, to reflect the lower third-quarter sales guidance, higher gross profit margin due to cost reductions, and higher forecasted operating expenses in the second half of the year. The target price is reduced by 13% to HKD 41