Morgan Stanley Reaffirms ‘Overweight’ Rating on XPeng
- Rating
- Overweight
- Unchanged
- Target
- $108
- Outcome
- Missed
- within 12 months
What the analyst said
Morgan Stanley analyst Tim Hsiao reiterated on September 26, 2025, an ‘Overweight’ rating and HK$108 price target on XPeng.
“We replace BYD Company Limited with XPeng in both our GEM and APxJ Focus Lists: XPeng has a robust model pipeline and is also identified as a leading AI adopter.
With successful launches of several new models and a strong pipeline, Tim Hsiao and team expect XPeng’s monthly sales to take off in 2025 and expand further in 2026, underpinned by the debut of its super electric hybrid system.
More meaningful margin improvement should materialize from 2025 when scale benefit of new models kicks in fully.
XPeng’s announcement of a strategic partnership with Volkswagen is likely to be a critical step for vehicle makers to move beyond the traditional business model and generate a new revenue stream mainly from software/service, which is higher-margin and recurring.”
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Where the price stands
XPEV trades at $9.60. The 7 analysts who set a target in the last 3 months range from $10 to $22, with a median of $16. This $108 target is 575% above the median, the highest on the Street.
Since the note XPEV has moved −57% (from $22.25). The 12-month window closed on September 26, 2026.
Track record
This call✗ Not reached within 12 months: a year after the note XPEV closed at $9.95, 91% below the $108 target, and it moved the other way.
Firm track recordMorgan Stanley: 82% of its 49 targets at least a year old were reached within 12 months (#8 of 26 firms). Accuracy ranking →
Morgan Stanley on XPeng
Morgan Stanley price targets on XPeng
4 calls from September 26, 2025 to March 20, 2026. The target went from $108 to $34 (−69%). The rating stayed Buy.
- March 20, 2026Kept the $34 targetBuy$34
- December 29, 2025Kept the $34 targetBuy$34
- November 11, 2025Target cut from $108 (−69%)Buy$34
- September 26, 2025 This noteEarliest call shownBuy$108
