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$NIO Inc (NIO.US)$$XPeng (XPEV.US)$$Li Auto (LI.US)$ Morgan ...

Morgan Stanley raised its tp on Nio to USD18.70 from USD12, on Xpeng to USD25.40 from USD12.50, and on Li Auto to USD53 from USD40, all keeping their ratings at Overweight. Nice!
Despite year-to-date gains of 35%- 96%, Nio and Xpeng are still 70%- 80% below their late 2020-early 2021 peaks, the team said.
"We think the EV trio's valuations have yet to fully capture the idiosyncratic volume upturn from 2H23e, of which the 68-190% YoY growth we expect should outshine that of peers," the team wrote.
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