【CITIC International: Upgrades Xpeng Motors rating to 'Buy', expects to reach breakeven by 2026】Jin Shi Data, November 21 - CITIC International published a research report stating that Xpeng Motors (09868.HK) has recently launched two successful new models, the Mona M03 and the Xpeng P7+, which are attractively priced and clearly positioned. This increases the likelihood of success for the four new cars expected to be launched next year. Consequently, the full-year sales forecast for next year has been raised by 26% to 390,000 units, with the new models expected to account for 75%. Anticipating sales growth along with improved gross margins, the firm believes that Xpeng is witnessing early signs of turning a profit, with expectations to achieve profitability by 2026. Currently, it's predicted that the net loss for the fourth quarter of this year will be approximately 1.6 billion yuan, but the net loss next year may narrow, expected to decrease from this year's net loss of approximately 6.02 billion yuan to next year's net loss of about 2.26 billion yuan. CITIC International has upgraded the company's rating from 'Hold' to 'Buy', and raised the target price for its US stock from $8 to $16, equivalent to a projected price-to-sales ratio of 1.5 times next year, higher than its peers. The firm believes that the valuation multiple is reasonable, as it expects breakeven to be achieved by 2026. (Source: Jin Shi Data)