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Jeenah Moon/Bloomberg
News from the Chinese electric-car maker
Xpeng
that its vehicle deliveries in the third quarter were up 266% year over year pushed the stock higher. That isn’t the only factor behind the gain.
Xpeng (ticker: XPEV) shares picked up their second Buy rating Monday morning, this time from Bin Wang, a Hong Kong-based analyst at Credit Suisse. He now rates shares the equivalent of Buy and has a $21 price target for the stock.
J.P. Morgan analyst Nick Lai also rates Xpeng shares Buy. His price target is $27 a share. Shares climbed 10.2% to $20.04 on Monday.
In addition to his positive call on Xpeng, Wang also rates
NIO
(NIO) shares at Buy and has a $25 price target. He rates
Li Auto
(LI) stock Hold, with a $16 price target for that security. Xpeng, NIO, and Li Auto are three pure-play EV start-ups selling
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