Jefferies Lowers XPeng Price Target to $25.20

Jefferies analyst Alexious Lee lowered the price target on XPeng (NYSE: XPEV) to $25.20 (from $26.50) while maintaining a Buy rating.

“XPeng reported 1Q26 rev of RMB13.0bn (-17.6% YoY, -41.4% QoQ) and a net loss of RMB1.78bn (vs. RMB0.66bn in 1Q25), broadly in line with our est. amid higher R&D spending.

GPM reached 20.6% (+5.0ppt YoY), while vehicle margin came in at 12.1% (+1.6ppt YoY, -0.9ppt QoQ). 2Q26 delivery guidance is 100k-106k.

The Iron robot will debut in 3Q26, with mass production by end-26. Robotaxi rollout remains focused on Guangzhou, where licenses are secured.”

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