Mizuho analyst Vijay Rakesh maintained a Buy on NIO Inc (NYSE: NIO) and cut the price target to $34 from $40.
The Tesla Inc (NASDAQ: TSLA) rival reported soft September quarter revenue and EPS and guided to weaker December quarter revenue with deliveries below consensus with ~7k production impact in October.
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Looking out, NIO guided December quarter deliveries below consensus with supply chain constraints, battery costs to remain a headwind into C23E, and model ramps with ET5 and Europe a tailwind.
While the secular electrification trend remains strong and NIO is well-positioned, the stock has seen headwinds with high commodity costs, weaker consumer sentiment, and U.S.-China regulatory concerns.
B of A Securities analyst Ming Hsun Lee maintained a Buy and cut the price target from $16 to $15.
Price Action: NIO shares traded higher by 9.62% at $11.34 on the last check Friday.
Latest Ratings for NIO
Date | Firm | Action | From | To |
|---|---|---|---|---|
Feb 2022 | CLSA | Maintains | Buy | |
Feb 2022 | Barclays | Initiates Coverage On | Overweight | |
Jan 2022 | Macquarie | Initiates Coverage On | Outperform |
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Source: https://finance.yahoo.com/news/nio-humongous-upside-despite-supply-175021064.html