XPeng (NYSE:XPEV) fell on Monday after UBS lowered its rating to Neutral from Buy on its view the upside from the Volkswagen (OTCPK:VLKAF) partnership and G6 momentum is already factored into the share price. "While the VW collaboration will proceed over the next three years, the company remains vulnerable in a fiercely competitive market and needs to recover its profitability," warned analyst Paul Gong. UBS assigned a price target of $23 to XPEV based on a 2.5X 2024 price-to-sales multiple. That valuation is higher than what UBS assigned to Nio (NIO) due to its leading technology capabilities in electric vehicles...