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.
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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