Nio Inc – ADR (NYSE: NIO) may proceed to achieve share in China’s electrical car market over the following two years, in line with BofA Securities.
Analyst Nio: Ming Hsun Lee maintained a purchase score for Nio, whereas decreasing the value goal from $ 63 to $ 60.
The Nio thesis: The corporate’s gross processing margin (GPM) reached an all-time excessive within the first quarter, due to the next contribution from EC6, the next uptake charge from the 100 kWh battery and NIO Pilot, in addition to ‘at a decrease invoice of supplies (BOM) value, Hsun Lee mentioned within the notice.
“NIO has initiated the planning and development of a brand new manufacturing unit in Xinqiao Industrial Park in Hefei with its strategic companions. The Hefei authorities will put money into Neo Park, which is able to help as much as 1 million EV items and 100 GWh battery capability at Neo Park. NIO might be one of many essential EV firms and can proceed to do contract manufacturing with JAC, ”the analyst wrote.
Whereas growing the 2021 gross sales estimate by 5%, Hsun Lee lowered the 2022 estimate by 1% to replicate “the potential influence on manufacturing of the chip scarcity.”
NIO value motion: Nio shares had risen 3.46% to $ 40.35 on the time of publication on Friday afternoon.
Newest critiques for NIO
|Apr 2021||CLSA||Throw the blanket on||Purchase|
|March 2021||Mizuho||Throw the blanket on||Purchase|
View extra analyst notes for NIO
See the newest analysts’ notes
© 2021 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.