Why This Nio, Xpeng Analyst Is Bullish After Q1 EV Delivery Updates

Chinese electrical automobile stocks NIO Dinky (NYSE: NIO) and XPeng Inc. (NYSE: XPEV) redeemed themselves credibly in March after a softer February, reporting file first-quarter deliveries.

The Nio, XPeng Analyst: BofA Securities analyst Ming Hsun Lee maintained a Desire ranking on Nio with a $63 stamp aim.

The analyst moreover maintained a Desire ranking on XPeng with a $53.10 stamp aim.

Nio Poised For Market Portion Positive aspects: Nio’s March deliveries represented a 373% year-over-year amplify and a 30% month-over-month climb, Hsun Lee acknowledged in a display.

Quarterly deliveries of 20,060 objects represented a 423% year-over-year amplify and 16% quarter-over-quarter progress, the analyst acknowledged.

This became as soon as 3% earlier than each and every Nio’s revised steering issued closing week and BofA’s estimate.

BofA’s bullish stance on Nio relies on rising EV penetration and the company’s battery swap space expansion, that might well seemingly relieve the company develop share in China, Hsun Lee acknowledged.

Connected Link: Nio, XPeng File For Hong Kong Listings: Report

XPeng to Leverage Developed AD Tech: XPeng’s March deliveries of 5,102 urged 384% year-over-year progress and a 130% amplify from the previous month, Hsun Lee acknowledged.

Quarterly deliveries of 13,340 were 7% earlier than BofA’s forecast and bettered the company’s steering for 13,000 objects, the analyst acknowledged.

The company delivered its P7 Cruise edition in March and expects to bring lithium iron phosphate battery versions of G3 and P7 in April and Would possibly well simply, respectively, based mostly entirely on BofA.

The company moreover plans to unveil a third model, an A-class sedan, in the 2d quarter, with deliveries starting save apart in the fourth quarter, he acknowledged.

The sure outcomes from XPeng’s navigation-assisted self sustaining using expedition from Guangzhou to Beijing that took quandary between March 19 and 26 display its NGP capability, Hsun Lee acknowledged.

XPeng will seemingly test up on volume gross sales progress as a result of of its continuous superior AD technology and product competitiveness, the analyst acknowledged.

Peek moreover: Desire Nio Stock

Wedbush Sees Obvious Readthrough For Tesla: The simpler-than-expected deliveries numbers from Nio and Xpeng are a truly sure indicator of the China EV market progress trajectory for the the rest of the year, Wedbush analyst Daniel Ives acknowledged in a display.

The analyst acknowledged he expects more appropriate recordsdata out of China from Tesla, Inc. (NASDAQ: TSLA) over the subsequent 24 hours.

The EV large can have had a solid March in China, with Model 3 gross sales exceeding Side road expectations, he acknowledged.

Chip shortages, the analyst acknowledged, are just about-time-frame run bumps that might well be fleet forgotten given the skyrocketing test of trajectory forward in the $5-trillion EV market.

“We proceed to deem EV stocks toddle 30%-40% bigger the the rest of the year because the Side road extra digests this transformational progress on the horizon,” Ives acknowledged.

NIO, XPEV Imprint Motion: In the end test, Nio shares were gaining 2.15% to $39.82. XPeng shares were up 1.45% at $37.04.

Connected Link: Xpeng’s Independent P7 Car Immediate Drives 3,600 Kms, Models Report

Photo courtesy of XPeng.

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Mar 2021




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