1. Xpeng Inc. (NYSE:XPEV)
Upside: 42.05%
Number of Hedge Fund Holders: 27
Xpeng Inc. (NYSE:XPEV) is one of the best automotive stocks to buy according to analysts. On April 24, Bloomberg reported that XPeng is in discussions with overseas automakers regarding potential cooperation amid plans to commercialize its driver-assistance technology globally as well as expand production to areas outside of China.
Earlier in April, XPeng reported that it delivered a total of 62,682 vehicles in the first quarter. In March alone, it delivered 27,415 vehicles, representing an 80% increase over the prior month.
In March, XPeng introduced a three-year strategy for Latin America and officially entered the Mexican market. Under this strategy, the company plans to launch both pure electric and range-extended electric models in 2027, as it lays the groundwork for a wider market coverage and targets a leading position in the region by 2028.
Meanwhile, Reuters reported on April 23 that the company is expecting to start large-scale production of its flying cars next year, as well as its humanoid robots in the fourth quarter of this year, according to XPeng President Brian Gu. He also cited tremendous potential to increase its cooperation with German automaker Volkswagen, which began the mass production of its first EV model last month.
Of 30 analysts polled by CNN, 73 percent assigned a Buy rating to XPeng. The stock registered a median price target of $23.67, a 42.05 percent upside from its current price of $16.66.
XPeng Inc. (NYSE:XPEV) is a leading Chinese Smart EV and NEV company that designs, develops, manufactures, and markets Smart EVs and NEVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to become a smart technology company trusted and loved by users worldwide.
While we acknowledge the potential of XPEV to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than XPEV and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 10 Best Data Center Stocks to Buy for the Long Term and 10 Best Small-Cap Biotech Stocks to Buy According to Hedge Funds.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
