Wall Street predicts XPeng stock price for next 12 months

Core Viewpoint - Despite challenges in the competitive EV industry in 2024, XPeng has successfully restructured, leading to positive market reactions and stock performance [1][4]. Group 1: Stock Performance - XPeng's stock surged by 5.92% in the latest trading session, with an additional gain of 1.71% in premarket trading, bringing shares close to $9 each [1]. - Analysts from TipRanks suggest a potential upside of 39.57% for XPeng's stock, with a target price of $12.24 [5]. Group 2: Financial Performance - XPeng reported an adjusted loss per share of $0.21 on revenue of $906.9 million for the first quarter of 2024, surpassing Wall Street's expectations [4]. - The company delivered 21,821 vehicles in Q1 2024, a 19.7% increase compared to the same quarter in 2023, despite a significant drop from Q4 2023 [4]. Group 3: Future Outlook - XPeng expects second-quarter deliveries to range between 29,000 and 32,000 vehicles, indicating a potential 25% increase compared to the same period in 2023 [3]. - Analysts from Morgan Stanley maintain an 'overweight' rating on XPeng, with a price target of $18, anticipating short-term share price growth [5].