Macquarie upgraded XPeng to Outperform from Neutral on Friday. The firm maintained its price target for the stock at $19.00 per share.
Strong order intake for the new GX flagship SUV triggered the rating change. Macquarie identifies this demand as a positive signal for the company's upcoming product cycle.
The investment firm raised its fiscal 2026 unit volume estimate for XPeng by 7%. This growth projection comes ahead of planned launches for new MONA SUVs and the G9L model.
Macquarie widened its loss per share forecast for the company. This adjustment reflects higher anticipated spending on research and development.