Bank of America Securities issued a report saying,Nio-SW(9866.HK) sales improved, and it is expected that there will be a better gross profit margin in the second half of this year, and its valuation is attractive. Therefore, the rating of the group's shares was raised from "neutral" to "buy", and the target price was raised to HK$202.
The bank said that the group has a strong model cycle and order backlog, with the "ET7" model shipped in March, and the "ES7" is also expected to be launched in June and deliveries will begin in August.
Bank of America also believes that,NioThe current price is equivalent to 1.7 times the one-year forecast enterprise value/sales ratio, which is one standard deviation lower than the historical average.
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