Macquarie analyst Erica Chen initiates coverage on NIO with Outperform rating and a PT of $37.70

Macquarie analyst Erica Chen initiates coverage on NIO with Outperform rating and a PT of $37.70. It is the first recent Price Target that the company receives under $50. NIO has been receiving many Price Target Updates after the NIO Day and, more recently, the Deliveries Numbers from December and the Global ones from 2021.

Two weeks ago, Credit Suisse released a note where it maintained the Outperfom Rating and the $83 Price Target for NIO plus the first leaked photos of the new SUV Model ES7.

Through a conference call with Credit Suisse, NIO’s CFO said “By end of 2022, double YoY Sales Growth is a very conservative expectation already.” – expecting +185,000 units for this year.

On January 10th, HSBC Raises NIO Price Target to $54 and maintained the Rating. Last week, Deutsche Bank analyst Edison Yu reiterated NIO‘s Buy Rating and $70 Price Target – a +100% upside from the last closing price.

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