Zhitong Finance APP learned that Citigroup released a research report stating that because Nio (NIO.US) has not yet reached breakeven, the bank gave a target price of US $6.8 based on a 2.5 xFY19E P/E. In view of the company's start-up positioning, early stage product delivery, operational risks and future sales of shares by original investors, and its relatively short stock trading history (listed in September 2018), its stock is rated as "high risk". Nio released data yesterday that it delivered 2,528 vehicles in November (down 18% year-on-year and flat month-on-month), with deliveries in the first 11 months of 2019 reaching...
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