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Daiwa initiates coverage on Xpeng with Buy rating and HK$200 price target for its HK shares

Phate Zhang •
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Daiwa Securities initiated coverage of Xpeng Motors Hong Kong shares with a Buy rating and a HK$200 price target, according to Sina.com.cn.

Xpeng closed up 3.08 percent to HK$173.88 in Hong Kong on Wednesday, and Daiwa's price target implies a 15 percent upside.

Daiwa expects Xpeng to be a leader in China's autonomous driving space and a leader in its commercialization process.

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The team believes Xpeng will be profitable by 2022.

The Sina report did not provide further details.

Daiwa initiates coverage on Xpeng with Buy rating and HK0 price target for its HK shares

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About Author

Phate Zhang

Phate Zhang

Phate is the founder and main author of CnEVPost. He has been reporting since 2009, mainly on macroeconomics and capital markets. He started his career at China Daily and Reuters. Contact via: phate@cnevpost.com.