Barclays Analysts Jiong Shao initiated coverage on shares of NIO in a report released on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $34.00 price target on the stock. Barclays‘s target price indicates a potential upside of 41.73% from the company’s current price.
Some investors may be concerned that NIO’s unit growth has not been as fast as peers such as XPEV and LI. We believe that concern should be somewhat alleviated now that NIO is set to double production capacity.Barclays Analyst, Jiong Shao
The same analyst announced that initiated coverage of XPeng with an Overweight rating and $33 price target. “Electric vehicles and smart cars are among China’s top national priorities and the total addressable market is not just China but the global auto market” — Shao tells investors in a research note. The analyst initiated coverage of leading Chinese electric vehicle makers with Overweight ratings.
“Rapid adoption” of electric vehicles around the world and “booming” sales have presented China’s electric vehicle makers a “rare opportunity” to not only take a sizable market share of the domestic auto market, but also build a dominant position around the world, Barclays analyst Jiong Shao says in a research note. The analyst says electric vehicles and smart cars are among China’s top national priorities. Not only is China the world’s largest auto market, its auto industry accounts for over one-third of the global automotive profit, Shao points out. The analyst believes China “has one of the most supportive and well-thought-out government policy agendas” for the electric vehicle industry.
With an Overweight rating, Barclays also initiated coverage on Li Auto Inc. The price target seems to have been set at $32.00 for Li Auto. For the third quarter, Li Auto had an EPS of $0.05, compared to year-ago quarter EPS of $0.00. At the moment, the stock has a 52-week-high of $37.45 and a 52-week-low of $15.98. Li Auto closed yesterday at $28.63.
According to a Nio enthusiast publication on the Chinese Social Media Weibo, Nio ET7 Model started being delivered to Nio’s showrooms in China ahead of the deliveries starting on March 28th. The photos below were shared by the user and show the model being transported to the Nio Store located in Jiangyin, China.
On January 19th, Nio held a communication where announced some more information about the ET7 Model that will start being deliveried on March 28th.Among the many topics of the presentation were the Test Drive date, Acceleration, the Recording Cams, and Seats details.
The EV maker delivered 9,652 vehicles in January 2022, representing an increase of 33.6% year-over-year. The deliveries consisted of 1,531 ES8s, the Company’s six- or seven-seater flagship premium smart electric SUV, 5,247 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 2,874 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of January 31, 2022, cumulative deliveries of the ES8, ES6 and EC6 reached 176,722 vehicles.
On January 27th and acording to SEC, Originalwish Limited, the company founded by Nio’s CEO, bought today another 3 Million shares ($68 Million) having now a total of 177,467,776 shares. The company has currently a 10.40% stake in Nio being on the Top-3 of Institutional Owners among Tencent and Baillie Gifford. The info was firstly posted by Marcel Munch on his Twitter account.