0850 GMT - XPeng is not likely to reach full-year profitability by 2026, Bernstein analysts write in a note. The company's strong 3Q earnings beat expectations, thanks to robust sales and record margins, but its 4Q gross margin could be challenged by a weaker product mix from a strong Mona M03 delivery, they say. Bernstein now forecasts XPeng's 4Q gross margin at 14.5% and full-year gross margin at 14.8%. The EV maker's two new models were priced very competitively and have strong order backlogs, but analysts have concerns over margin dilution, especially from Mona. Challenges related to execution and supply chains may also pose risks for fulfilling orders, they add. Bernstein maintains a market-perform rating for the stock, while upgrading its target price for ADRs to $14.00 from $9.00 and its Hong Kong-listed shares to HK$54.00 from HK$35.00, respectively. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 20, 2024 03:50 ET (08:50 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。