Nio’s price target lowered from $60 to $30 at JPMorgan Chase, reiterates Overweight rating

Written by Cláudio Afonso |

JP Morgan Chase & Co lowered today Nio’s price target from $60 to $30 reiterating the Overweight rating for the Chinese electric vehicle manufacturer.

Two weeks ago, JP Morgan Chase & Co has filed a 13F-HR/A form disclosing ownership of 7,640,838 shares of Nio Inc with total holdings valued at $242,062,000 USD as of 2021-12-31. The firm currently holds put options representing 420,200 of underlying shares valued at $13,312,000 USD .

Source: Fintel

During Q4 2021, JPMorgan Chase’s added roughly 6 million NIO shares, bringing the total up to more than 7 Million, an almost 400% increase from Q3 2021, when the firm was holding about 1.6 million shares.

Source: Fintel
JP Morgan Statement

The company announced today that it will report its fourth quarter and full year 2021 unaudited financial results on Thursday, March 24, 2022, after the close of the U.S. markets. The Company’s management will host an earnings conference call at 9:00 PM U.S. Eastern Time on March 24, 2022 (9:00 AM Beijing/Hong Kong Time on March 25, 2022). A live and archived webcast of the conference call will be available on the Company’s investor relations website at

Nio announced that delivered 6,131 vehicles during February 2022. February deliveries are often affected by the Chinese Spring Festival Hollidays where the factories usually close from January 31st to February 6th.

NIO delivered 6,131 vehicles in February 2022, representing an increase of 9.9% year-over-year. The deliveries consisted of 1,084 ES8s, the Company’s six- or seven-seater flagship premium smart electric SUV, 3,309 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 1,738 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of February 28, 2022, cumulative deliveries of the ES8, ES6 and EC6 reached 182,853 vehicles.

During the production suspension of the NIO-JAC manufacturing plant in the Spring Festival holiday from January 31 to February 6, 2022, the Company adjusted the production lines to prepare for the delivery of ET7 in March 2022.

On February 28, 2022, the Company received a letter of in-principle approval from the Stock Exchange of Hong Kong Limited (the “SHEK”) for the secondary listing of its Class A ordinary shares by way of introduction on the Main Board of the SEHK with the trading expected to commence on March 10, 2022.


Deustche Bank analyst Edison Yu released on Monday a note reiterating Nio’s Buy rating and the $70 price target, representing an upside of 206% for the next 12 months. The analyst believes that the secondary listing should put away the delisting fear for the Chinese Ev manufacturer.

On Monday, Bernstein analyst Eunice Lee reiterated a Market Perform rating and $40.00 price target (down from $45) on NIO after the company unveiled that is set to offer its shares for trading in Hong Kong as soon as March 10th.

Lee sees the latest move as a positive step towards eliminating the delisting risks concerning ADRs on American Exchanges. After Hong Kong and Singapore, the analyst sees potential for Nio to be traded on Shanghai stock exchange in the future.

Also Citi Group’s Analyst Jeff Chung reiterated Nio’s price target of $87 with a Buy rating representing an upside of 315.47%.

Written by Cláudio Afonso |