The post Here’s why this EV stock skyrocketed in a week appeared on BitcoinEthereumNews.com.

Chinese electric vehicle maker XPeng (NYSE: XPEV) has had quite an auspicious year so far. In early January, company chairman and chief executive officer (CEO) He Xiaopeng revealed ambitious expansion plans, which should see the automaker hire as many as 6,000 new workers and expand to a total of 60 markets.  Several key announcements followed — most notably, partnerships with Volkswagen and British Petroleum, both of which ensured charger cross-compatibility. Then, in late January, XPeng published its vehicle delivery results for the month. With 30,350 cars delivered, the company surpassed the 30,000 mark for the third month in a row. More notably, this also represented the first instance since September 2022 in which XPeng’s deliveries surpassed that of key rival Li Auto. By press time on February 27, XPEV was changing hands at a price of $22.14, after a 16.76% rally that occurred over the course of the last week. This latest move to the upside has brought the Chinese EV stock’s year-to-date (YTD) gains up to 90.14%. XPEV stock price 1-week chart. Source: Finbold UBS hikes price target on surging EV stock — but maintains conservative outlook On February 14, Paul Gong, a UBS analyst, upgraded the Chinese EV stock from a prior ‘Sell’ rating to a ‘Neutral’ rating. In addition, the researcher hiked his price target from $8.8 to $18. If met, Gong’s 12-month price forecast for XPEV stock would equate to an 18.69% downside. That might not sound quite like a positive development — but a closer look at Gong’s rationale reveals a cautious, yet not necessarily negative outlook. In a note shared with investors, the UBS analyst stated that “After DeepSeek shocked equity markets, we believe investors are now willing to assign some value for AI potential, even remote applications.” Gong further opined that XPeng warrants…

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Filed under: News - @ February 27, 2025 4:24 pm