CLSA analyst Soobin Park lowered Nio’s PT to $35 from $60, implying upside potential of 35.7%

CLSA analyst Soobin Park lowered today Nio’s Price target to $35 from $60. The analyst initiated coverage on Nio last April with a $50 Price target when the stock was trading around $39. Park’s price target implies an upside potential of 35.7% based on Tuesday’s closing price of $25.79. CLSA’s parent company CITIC Securities is China’s leading brokerage and investment bank.

On April 23rd, 2021, Soobin Park initiated coverage on Nio with a Buy rating and a $50 price target, implying a 26% upside. At the time, the analyst said “Indicators are on and Nio is signalling a new direction into new luxury EV, global and even mobility markets. After establishing itself as a premium electric SUV maker over a mere seven years, it is now planning to move into sedans as well as going on a European drive. Its innovative battery-charging model may be a major draw for users and differentiates it from other high-end EV producers, as does its investment in future technology. We initiate coverage at a BUY with a US$50.00 target, powered by our 48% sales Cagr assumption over 2020-25CL.”

Park works for CLSA since January 2020 and focus on Energy, Evs and Battery related stocks like NIO, SKC, SKIET and Kumho Petrochemical.

Earlier today, the company announced partnership with the iconic Wallpaper* brand in order to sell NIO Life products on the iconic stores.

WallpaperSTORE*, a full-category design store created by the “Wallpaper*” media brand, signed a partnership with the Chinese EV maker Nio. WallpaperSTORE* will now have Nio Life products exposed among iconic designers like Tom Dixon, Botega Veneta or St Louis Crystal. NIO Life is now the world’s first design store included on the Wallpaper Magazine.

NIO Life, as one of the first original design lifestyle brands to settle in, Wallpaper’s team chose the most desirable supermodel cup The New Bottle full range of products and NIO x Tom Dixon’s cooperation Tube series tableware. Wallpaper Magazine was launched in London in 1996 by Canadian journalist Tyler Brûlé and Austrian journalist Alexander Geringer. It is now owned by Future plc after its acquisition of TI Media.

Source: NIO

Wallpaper* is the world’s number one global design destination being renowned for its qualities and characteristics of inspiring source is the leading authority in communication for architecture, design, fashion and lifestyle.

The world’s first store is located in the Kerry Center (Shangai), designed by a direct construction firm and designed by architect Shui Yanfei, regards WallpaperSTORE* as a “Wallpaper Apartment” to showcase the creativity of designers around the world.

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.