10:35 AM EDT, 05/22/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price of USD8, which implies a 2024 consensus P/B of 2.1x. Xpeng ( XPEV ) posted a Q1 2024 loss per share (LPS) of -CNY1.46, narrowing from a LPS of -CNY2.71 in Q1 2023. We expect XPeng's ( XPEV ) revenue momentum to sustain, driven by rising demand for electric vehicles (EVs). However, as EV penetration accelerates, we think competition will rise aggressively given more traditional brands are rapidly rolling out their respective EV models, as well as threats from well-established Chinese EV brands. We expect relatively small players like XPeng ( XPEV ) to face difficulties in expanding market share organically. This becomes additionally challenging as industry peers are cutting prices to boost sales volume. Hence, we are cautious about XPeng's ( XPEV ) liquidity, given the substantial investments in R&D. We reiterate our Hold opinion, as we see net losses narrowing year-over-year in 2024. We maintain our 2024 and 2025 LPS estimates of -CNY7.96 and -CNY5.25, respectively.