CICC: Maintains a outperform rating for Xpeng Motors-W (09868), with a target price of HKD 108.

According to the Zhitong Finance and Economics APP, CICC released a research report stating that the current stock price of Xiaopeng Motors-W (09868) in Hong Kong and the US corresponds to 1.6x and 1.5x P/S in 2025, respectively. They maintain an outperform industry rating and profit forecast. The target price for Hong Kong and US stocks is maintained at HK$108 and $28, respectively, with an upside potential of 41% and 45% from the current stock price, both corresponding to a P/S of 2.2x in 2025. On May 28th Beijing time, the company held a new product launch event for the MONA M03 Max model, and the pricing of the new model exceeded market expectations.