XPeng (XPEV) Climbs 20% on Whopping Q3 Revenue Growth Expectations

We recently published 10 Stocks Defy Chaos With Jaw-Dropping Gains. XPeng Inc. (NYSE:XPEV) is one of the top performers of last week.

Chinese electric vehicle maker XPeng Inc. (NYSE:XPEV) grew its share price by 20.56 percent week-on-week as investors cheered the company’s highly optimistic growth outlook for the third quarter, while taking path from an investment firm’s bullish rating for its stock.

Last week, XPeng Inc. (NYSE:XPEV) said it was targeting to grow its revenues by 94 percent to 107.9 percent year-on-year to between RMB19.6 billion and RMB21 billion in the third quarter, as it expected to deliver between 113,000 and 118,000 vehicles, or a year-on-year growth of 142.8 percent to 153.6 percent.

XPeng (XPEV) Climbs 20% on Whopping Q3 Revenue Growth Expectations

This followed its stellar earnings performance in the second quarter, having narrowed its net loss attributable to shareholders by 62.5 percent to RMB480 million from RMB1.28 billion in the same period last year, thanks to a 147-percent expansion in vehicle sales of RMB16.88 billion versus only RMB6.82 billion in the same comparable period.

Following the results, investment firm HSBC, in a market note on Friday, gave XPeng Inc. (NYSE:XPEV) a “buy” recommendation with a new price target of $29.6, higher than the $27.4 price target previously. The figure marked a 24.6-percent upside potential from its latest closing price.

While we acknowledge the risk and potential of XPEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than XPEV and that has 10,000% upside potential, check out our report about this cheapest AI stock.