News Snapshot:
Shares of pure-play electric vehicle producers can be controversial on Wall Street. High-growth car stocks can be difficult to value when the traditional auto players trade for less than seven or eight times estimated earnings. Shares of Chinese EV maker XPeng are now one of the most controversial EV stocks, supplanting even Tesla on a measure of Street controversy. Over the Thanksgiving holiday, Jefferies analyst Johnson Wan downgraded XPeng (ticker: XPEV) shares to Sell from Hold. He reduced his price target more than 75% to $4.20 from $18.60 a share.
