Goldman Sachs: NIO Inc. (09868.HK) target price raised to 94 Hong Kong dollars with a rating upgrade to "buy"

According to the Securities Times APP, Goldman Sachs has released a research report stating that it has upgraded Xpeng Motors (XPEV.US, 09868) to a buy rating with a 12-month target price of $24/94 Hong Kong dollars, implying a 29%/27% upside potential. The firm sees the results of a series of efforts (including organizational and supply chain restructuring, cost reductions through technology, and platformization) now materializing, as these efforts have transformed the company's product and cost structure competitiveness, bringing higher visibility for sustainable sales growth and profit margin improvement in the future.