Core Viewpoint - Morgan Stanley's research report indicates that XPeng Motors' H-share price has more than doubled year-to-date, primarily due to market expectations of the company turning profitable in the fourth quarter [1] Group 1: Growth Drivers - The main growth drivers for XPeng Motors from 2026 to 2027 are expected to stem from the company's recent AI initiatives, including Robotaxi, humanoid robots, and flying cars, all powered by self-developed AI [1] - Significant revenue contributions from these new initiatives are not anticipated until the second half of 2026 or later [1] Group 2: Market Expectations - The market has not fully estimated the company's prospects for 2027, but as visibility on technology improves, the stock price is expected to reflect its AI vision positively starting from the second quarter or second half of next year [1] Group 3: Price Target Adjustments - In a pessimistic, base, and optimistic scenario, the potential upside for XPeng Motors is estimated at 85%, 120%, and 200% respectively [1] - The target price for the Hong Kong stock has been significantly raised from HKD 100 to HKD 195, while the target price for the US stock has been increased from USD 25 to USD 50, maintaining a "buy" rating [1]
大行评级丨摩根大通：大幅上调小鹏汽车目标价至195港元 AI布局将成为下一波主要增长动力