Bank of America Securities: Upgraded Xiaopeng Motors-W (09868) target price to HK$109, third-quarter loss beats expectations.

According to the Securities Times APP, Bank of America Securities released a research report stating that they have lowered their 2025 sales forecast for XPeng Motors-W (09868) by 1%, but increased their forecasts for 2026 and 2027 by 3% and 5% respectively; The 2025 non-GAAP net loss forecast has been lowered from 1.094 billion yuan to 884 million yuan, while the 2026 and 2027 non-GAAP net profit forecasts have been lowered by 20% and 9% respectively. The bank has raised its target price for XPeng's Hong Kong stocks from HK$105 to HK$109, and for its US stocks (XPEV.US) from $27 to $28, reflecting the increase in sales forecasts, reiterating a "buy" rating and optimistic about the strong product layout in 2026.