The Morgan Stanley research report pointed out that xpeng (09868) delivered a total of 0.1225 million units of smart electric cars in the first ten months of this year, reaching 87% of the bank's previous annual forecast. The bank believes that xpeng has a strong product pipeline, mature smart driving technology, opportunities for commercial cooperation with Volkswagen, and a rich ecosystem, considering the company to have a super risk-return ratio among major electric vehicle startups.

The bank expects xpeng to showcase more technological reserves at this year's AI DAY. At the same time, with the launch of the M03 model, it will enter a strong product cycle. The bank has raised its delivery forecast for 2024 to 2026 by 13% to 29%, exceeding the market's average forecast. The target price for H shares has been raised by 46% to 66.4 Hong Kong dollars, and the target price for US stocks has also increased by 45% to $17, maintaining a "shareholding" rating.