Deutsche Bank Initiates Coverage on XPENG-W with Buy Rating, Sets HK$85 Price Target

Deep News

Jul 21

Deutsche Bank has released a research report initiating coverage on XPENG-W (HKEX: 09868) with a Buy rating and a price target of HK$85.

The bank notes that XPeng officially launched its new SUV model, the Mona L03, on July 16, with a final price range of RMB 124,000 to 157,000. This price is approximately RMB 10,000 lower than the pre-sale price, making it the most affordable SUV in XPeng's current lineup.

Deutsche Bank views this move as a strategic step by XPeng to drive sales volume growth by targeting the budget SUV segment. This follows the company's successful entry into the low-price sedan market earlier in 2024 with the Mona M03 model.

The report also highlights that the Mona L03 features highly attractive exterior and interior design, which should bolster its competitiveness in the market.

Deutsche Bank anticipates that the Mona L03 can replicate the success of the Mona M03, supporting its positive outlook and Buy rating for the company's stock.

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