Bernstein Raises XPeng (XPEV) Target to $19 After 330% YoY Delivery Surge

Following the company’s Q1 release, a team of Bernstein analysts, led by Eunice Lee, raised their price target for XPeng Inc. (NYSE:XPEV) shares from $18 to $19 while maintaining a Market Perform on the stock on May 22.

According to the firm, Xpeng’s Q2 guidance was consistent with the facelifts of the G6 and G9, M03 Max, and G7, which are expected to maintain momentum.

While it reflected a slight 1.8% drop from the previous quarter, XPeng’s first-quarter revenue of RMB 15.8 billion represented a 141.5% boost over the same period last year. Largely driven by the robust performance of its MONA M03 and P7+ models, the company managed to deliver 94,000 units during the quarter, a whopping 330.8% increase year-over-year and a 2.7% increase quarter-over-quarter.

In terms of total revenue, XPeng Inc. (NYSE:XPEV) anticipates between RMB 17.5 billion and RMB 18.7 billion for the second quarter of 2025, which implies an increase of 116% to 131% year-over-year. In addition, the EV manufacturer’s estimated sales volume is expected to fall somewhere between 102,000 and 108,000 units, representing a 238% to 258% boost year-over-year.

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.

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Disclosure: None.