- The stock price of Nio Inc (NYSE:NIO) has received a price target increase from $44.70 to $54 by HSBC. These are the details.
The stock price of Nio Inc (NYSE:NIO) has received a price target increase from $44.70 to $54 by HSBC. And HSBC analyst Yuqian Ding is maintaining a “Hold” rating on Nio shares.
Ding pointed out that the sales of electric vehicles in China increased 8% last year, which was a surprise since she was forecasting that the market was going to shrink. And Ding wrote: “clearly EV adoption is happening faster than we thought.”
In terms of forecasts, Ding raised EV demand forecasts by 19% for this year and next. And she also raised the earnings forecast for NIO to account for the company’s strong volumes. Plus she expects Nio to deliver better quality models and aggressive pricing structures against its competitors.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
