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NIO Inc. Monthly Volume to 'Continuously Improve' - HSBC

Stock Markets Jun 30, 2022 03:41PM ET
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© Reuters NIO Inc. (NIO) Monthly Volume to 'Continuously Improve' - HSCB

By Sam Boughedda

HSBC analyst Yuqian Ding reiterated a Buy on Chinese electric vehicle company Nio Inc (NYSE:NIO) on Thursday, raising the firm's price target on the stock to $28 per share from $26.

In a research note, Ding told investors that monthly volumes should improve on ramp-ups of new models and demand and supply chain recovery.

NIO's price target recently fell after a short report from Grizzly Research arguing the company is exaggerating revenue and profit margins. NIO shares are currently down 32.6% in 2022.

Ding said: "NIO's US share price has rebounded 6% since end-March (vs the S&P 500 index down 16% during the same period), mainly on the back of the momentum seen in NIO's sales volume recovery (May sales were +38% m-o-m and +5% y-o-y, per company data), in line with our expectation. Looking forward, we expect its monthly volume to continuously improve from ramp-ups of three new models (ET7/ES7/ET5) in 2H22e and more new models expected to launch after 2022e."

However, the analyst acknowledged that the battery cost headwind is "likely to weigh on profits over the near term" into the second quarter, with NIO's selling price hike not "reflected in revenue until 3Q22e."

NIO Inc. Monthly Volume to 'Continuously Improve' - HSBC
 

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Comments (1)
John Laurens
John Laurens Jun 30, 2022 4:41PM ET
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Nobody cares about nio schmio... This is the America page. If we wanted to read about China, we'd be on that page. DUH!
Heinz Luck
Heinz Luck Jun 30, 2022 4:41PM ET
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...reality seems to bother?
Trevor Johnson
Trevor Johnson Jun 30, 2022 4:41PM ET
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last I checked NIO is traded in the states ya so stop trolling and being ignorant
Trevor Johnson
Trevor Johnson Jun 30, 2022 4:41PM ET
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last I checked NIO is traded in the states ya dumb ******. stop trolling and being ignorant
 
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