Deutsche Bank Raises NIO-SW Price Target to HK$80, Keeps Buy Rating

Stock News04-27 17:02

Deutsche Bank has issued a research report indicating that NIO-SW (09866) officially began pre-sales of the ES9 on April 9, with a starting price of RMB 528,000. The new vehicle is expected to start deliveries by the end of May. Channel checks reveal that nationwide cancellable orders have reached approximately 40,000 units. Dealers project that the ES9 could achieve monthly sales exceeding 5,000 units across the country. The bank has raised its target price from HK$76 to HK$80, while maintaining a "Buy" rating. Due to stronger-than-expected ES9 orders, the bank has increased its full-year 2024 sales forecast for NIO by 5% to 420,000 units. It is anticipated that the ES9 will reach average monthly sales of around 5,000 units after production capacity increases in the second half of the year.

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