Morgan Stanley released a research report stating that it reiterates a "shareholding" rating to capture the next artificial intelligence trend. $XPENG-W (09868.HK)$ The target price has been raised from 45.6 Hong Kong dollars to 66.4 Hong Kong dollars.

The company delivered a total of 0.1225 million smart electric autos in the first ten months of this year, reaching 87% of the bank's previous full-year forecast. Based on driving factors and some adverse factors such as short-term supply constraints and seasonal factors, the bank has raised its delivery forecast for Xpeng from 2024 to 2026 by 13 to 29%, higher than the market's expectations.

Morgan Stanley expects Xpeng to demonstrate its multiple technological reserves starting from this year's AI Day and continuously expand the production capacity of vehicle and non-vehicle product lines. In the fierce competition of smart electric vehicles, it may continue to enhance its moat.