0721 GMT - XPeng's gross profit margin will likely to further improve into the next quarter, Nomura analysts write in a note. Thanks to strong demand for its two new models, Mona M03 and P7+, the company has enjoyed enlarged business scale and lower costs, they say. XPeng is one of the most active players in China's EV industry as its new models entering the mass market, the new generation of advanced driving technology and a possible new extended range EV model launching next year. The brokerage is reviewing its estimates for XPeng and see opportunities for the company. Nomura maintains its neutral rating on the stock and keeps its target price at $14. They last closed at $12.52.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 20, 2024 02:21 ET (07:21 GMT)
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