Two Wall Street firms raised their price targets on Nio on Tuesday, extending a wave of analyst updates after the electric vehicle maker’s annual event over the weekend.
Mizuho Securities’ Vijay Rakesh lifted his price target to $7 from $6 while keeping a Neutral rating.
Separately, Nomura went further hiking its target by 68% to $8.40 from $5, also with a Neutral stance.
Nio‘s US-listed shares fell 6.2% on Monday, closing at $6.90.
The moves followed Bank of America’s note on Monday where it raised its price target to $7.60 from $7.10, its second upward revision this month, though it too maintained a Neutral rating.
Nio unveiled its third-generation ES8 SUV and a new edition of its flagship ET9 sedan on Saturday in Hangzhou, while also opening orders.
In a research note, Nomura said strong order momentum for the Onvo L90 and the new ES8 indicates sales have “reversed course” and should support shipment growth through the rest of the year.
The firm cut its delivery forecast for this year by 9.5% but raised projections for 2026 and 2027, estimating a 32% compound annual growth rate in revenue from fiscal 2024 to 2027.
It expects the company founded and led by William Li to reach breakeven in 2027 but cautioned that the company’s balance sheet remains fragile and may require additional financing in the near term.
Nomura pointed to weekly orders for the Onvo L90 in the 2,000–3,000 range and nearly 50,000 locked orders for the new ES8, surpassing this year’s production capacity.
That backlog, it said, should provide “solid support” for shipments into 2025.
Nio shares have more than doubled in the past three months, climbing 116% to their highest level in nearly a year, fueled by strong demand for its newly launched three-row SUVs.
Adding to signs of demand, Nio on Tuesday began displaying delivery wait times for the ES8 of 24 to 26 weeks — roughly six months.
Weekly insurance registration data also showed the company sold 6,670 vehicles across its three brands between Sept. 15 and 21, up 8.1% from the previous week.
