Goldman Sachs: XPENG-W's first quarter revenue guidance exceeds expectations, maintains "Buy" rating with a target price of HKD 85
Goldman Sachs released a research report stating that XPeng-W's gross profit and EBIT for the fourth quarter of 2025 are both better than the bank's and market expectations, mainly due to higher-than-expected service and other income, as well as increased government subsidies. Although the delivery guidance for the first quarter of 2026 is lower at 61,000 to 66,000 vehicles, the revenue guidance of RMB 12.2 billion to 13.28 billion is higher than the bank's expectations, possibly driven by non-automotive income. The bank now gives a "Buy" rating and a target price of HKD 85 for the Hong Kong stock. The bank expects investors to focus on XPeng's first-quarter gross margin guidance, the future mileage of humanoid robots and autonomous driving, as well as the release schedule of new models and overseas expansion strategies for the entire year
According to the Zhitong Finance APP, Goldman Sachs released a research report stating that XPENG-W (09868) is expected to have gross profit and EBIT in the fourth quarter of 2025 that exceed both the bank's and market expectations, mainly due to higher-than-expected service and other income, as well as increased government subsidies. Although the delivery guidance for the first quarter of 2026 is lower at 61,000 to 66,000 units, the revenue guidance of RMB 12.2 billion to 13.28 billion is higher than the bank's expectations, potentially driven by non-automotive income. A "Buy" rating is now given with a target price of HKD 85 for the Hong Kong stock. The bank expects investors to focus on XPENG's gross margin guidance for the first quarter, the future mileage of humanoid robots and autonomous driving, as well as the release schedule for new models and overseas expansion strategies for the entire year
