XPENG-W (09868.HK) +0.300 (+0.927%) Short selling $63.73M; Ratio 17.119% (XPEV.US) 's 1Q24 results beat expectations due to an improved product mix on the delivery of the its X9 and software service revenue contribution, HSBC Global Research issued a research report saying.
HSBC Global Research trimmed its target price for XPENG-W's H-shares/ US stock from $73/ US$18.7 to $66/ US$16.9, with rating at Buy. HSBC Global Research raised its 2024 earnings forecast by 8%, mainly due to higher gross profit margin and software service revenue.
However, the broker lowered its earnings forecasts for 2025/ 2026 by 29%/ 56% each, believing that the mass production of low-priced new models may weaken profit margin.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-03 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
