Macquarie cuts XPeng stock rating on volume growth concerns

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Asia stocks sink; Japan, S.Korea lead losses as Iran crisis worsens Gold slides 4%, wipes out 2026 gains as Iran crisis keeps rate fears in play Goldman raises Brent forecasts again, sees higher oil prices for longer Spike in oil prices seen as ’a clear risk for consumer equities’ (South Africa Philippines Nigeria) Macquarie cuts XPeng stock rating on volume growth concerns By Analyst Ratings Published 03/23/2026, 04:03 AM Macquarie cuts XPeng stock rating on volume growth concerns 0 XPEV -8.36% Investing.com - Macquarie downgraded XPeng (NYSE:XPEV) to Neutral from Outperform on Monday and lowered its price target to $19.00 from $24.00. The firm cited uncertainty around volume growth for the electric vehicle maker this year. Analyst Eugene Hsiao noted that shares typically outperform when XPeng releases a clear hit product such as the P7+ or Mona M03. Macquarie said it remains too early to judge whether the upcoming GX or new Mona SUV series in the second half of 2025 will have a similar impact. The firm lowered its fiscal 2026 unit volume estimate by 7% on soft early demand. The firm’s gross profit margin estimate improved 60 basis points on higher other income mix. Macquarie’s fiscal 2026 loss per share estimate widened to negative 1.28 yuan from negative 0.45 yuan amid higher research and development spending. Macquarie introduced its fiscal 2028 estimates for the company. The firm said it still likes XPeng’s physical artificial intelligence optionality but cannot ignore the hard truth that volume growth is no guarantee this year. In other recent news, XPeng reported solid fourth-quarter 2025 financial results, with total revenues reaching RMB22.25 billion, marking a 38% increase year-over-year, and a gross margin expansion to 21.3%. Despite these strong results, US Tiger Securities downgraded XPeng’s stock rating from Buy to Hold, citing valuation concerns. Meanwhile, Morgan Stanley maintained an Overweig...