Daiwa raised Nio's target price to $9, reiterating a "Buy" rating
Daiwa published a research report stating that NIO (09866.HK)(NIO.US) has strong demand for its new models Onvo L90 and ES8. The firm raised its total sales forecast for the company from 2025 to 2027 by 13% to 32%, expecting it to reach between 357,000 and 768,000 vehicles.
The firm believes that NIO is likely to achieve breakeven in the fourth quarter of this year, currently estimating the company's non-GAAP net profit for next year to be RMB 992 million, while the non-GAAP net profit for 2027 is expected to be RMB 4.4 billion. The firm also raised NIO's (NIO.US) target price from $8.10 to $9.00, reiterating a "Buy" rating
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