Wall Street sets XPeng stock price for the next 12 months
Photo: Finbold
Goldman Sachs reiterated its “Buy” rating on XPeng (NYSE: XPEV) and cut its XPeng stock price target from $24 to $16 on October 23. The new forecast represents a roughly 33% cut from the previous one, but it still sees the electric vehicle ( EV ) manufacturer rallying 75% over the next 12 months. XPeng shares last closed at $9.07, but a notable 4% uptick in pre-market trading has pushed the price up to $9.44 at the time of writing. While the market has certainly welcomed today’s uptick, XPEV shares have been under pressure throughout the year.
Source: Finbold
