Xpeng Motors' revenue forecast fell short of expectations, dragging down its ADR and causing Citigroup to slightly lower its target price.

Xiaopeng Motors' fourth quarter revenue forecast fell short of expectations, dragging down its ADR by more than 10% overnight. Citigroup stated that considering the slow season for car sales in the first quarter of next year, they have lowered Xiaopeng Motors' US and Hong Kong stock price targets by over 3%, but still see potential for the company's diversified growth next year. Analysts Jeff Chung and others pointed out in their report that after the analyst briefing, they slightly lowered the company's sales forecast for 2025 to align with the company's new guidance for 2026. The company plans to release 7 new car models and initiate trial runs for Robotaxi. Xiaopeng aims to start mass production of humanoid robots by the end of 2026, with management envisioning that the total target market for humanoid robots will exceed that of electric cars. By 2030, Xiaopeng's global sales of robots are expected to exceed 1 million units. Citigroup lowered the company's US stock target price by 3.4% to $28.4 and the Hong Kong stock target price by 3.7% to 110.6 Hong Kong dollars.