Citigroup research analysts raised XPeng (NYSE:XPEV)’s price target to $87.00 in a note to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the stock. According to Citigroup’s price objective, the stock could rise by 96.26% from its previous close. The analysts noted that the move was a valuation call.
The company has also been discussed by several other analysts recently. Bank of America lifted their target price on XPeng from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 1st. Sanford C. Bernstein started coverage on XPeng in a report on Thursday, October 28th. They set an “outperform” rating and a $56.00 target price on the stock. Daiwa Capital Markets started coverage on XPeng in a report on Wednesday, August 4th. They set a “buy” rating on the stock. Finally, Zacks Investment Research downgraded XPeng from a “hold” rating to a “sell” rating in a report on Thursday, October 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $56.31.
Charles Schwab Investment Management Inc. grew its stake in shares of XPeng Inc. (NYSE:XPEV) by 241.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 503,997 shares of the company’s stock after acquiring an additional 356,490 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.06% of XPeng worth $22,388,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Andra AP fonden increased its stake in shares of XPeng by 116.6% during the 2nd quarter. Andra AP fonden now owns 148,400 shares of the company’s stock valued at $6,592,000 after acquiring an additional 79,900 shares during the last quarter. State Street Corp increased its position in XPeng by 103.9% during the 2nd quarter. State Street Corp now owns 6,118,426 shares of the company’s stock worth $271,780,000 after purchasing an additional 3,116,998 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in XPeng during the 2nd quarter worth approximately $309,000. Nuveen Asset Management LLC increased its position in XPeng by 68.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 452,655 shares of the company’s stock worth $20,107,000 after purchasing an additional 183,803 shares in the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in XPeng during the 2nd quarter worth approximately $437,000. 24.34% of the stock is owned by institutional investors.
