0437 GMT - XPeng will likely report stronger sales volume for the rest of this year and next year, thanks to demand for its new models, CCB International analyst Qu Ke writes in a note. The Chinese automaker is on track to reach its monthly delivery target of 30,000 units in December due to strong sales of its Mona M03 and P7+ models, he adds. Supported by the strong momentum, XPeng could achieve a significant leap in sales volume next year, which could result in 50% growth by the end of 2025, he says. The brokerage forecasts 280,000 units of deliveries next year, which would mean deliveries of an average of 70,000 units per quarter. CCB raises its target price on the stock to $17.80 from $9.10 while maintaining an outperform rating. Shares last closed at $12.64. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 20, 2024 23:37 ET (04:37 GMT)
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