US Stock Market News | Goldman Sachs Reiterates "Buy" Rating, XPeng Motors Soars Over 6.5%
As of the time of writing, the stock has risen more than 3%, reaching $16.42.
According to Dolphin Research APP, on September 22nd (Friday), Xpeng Motors (XPEV.US) saw a temporary increase of over 6.5%, and as of the time of writing, the stock has risen over 3% to $16.42. In terms of news, Xpeng released a minor updated version of its electric vehicle G9 on September 19th. This release includes a total of 5 models, with the starting price of the base model as low as 263,900 yuan, which is 46,000 yuan lower than the base model of the previous version of Xpeng G9. The new car's exterior design remains largely unchanged, with more focus on optimizing and upgrading the configurations. The new G9 has made upgrades in terms of intelligence, performance, and electric power.
Goldman Sachs stated that the pricing of the new G9 is competitive and will become a driving force for sales volume and gross margin growth in the fourth quarter. They have revised Xpeng's sales forecast for the three-year period from 2023 to 2025, increasing it from the original 143,000, 247,000, and 381,000 units to 156,000, 264,000, and 401,000 units respectively. Revenue forecast has been adjusted upward by 6% to 10%, and they have reiterated their "buy" rating.