DBS Bank: NIO is expected to achieve stronger profitability, raising the target price to HKD 65

On November 29th, Jinshi Data reported that DBS Bank analyst Rachel Miu stated in a report that Nio Inc. (NIO.N) could achieve stronger earnings with the potential increase in sales of the new Onvo L60 model and accelerated overseas expansion. Miu noted that the sales of the Onvo L60 in the first month were 832 units, and sales are expected to increase for the remainder of the year. Additionally, Nio's expansion into the Middle East and North Africa through joint venture agreements may further boost the company's sales. DBS Bank maintains a buy rating on the stock and raised its target price from HKD 57 to HKD 65