Bank of America Securities issued a report stating that,Nio-SW(9866. HK) 's sales have 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 group's share rating has been upgraded from "neutral" to "buy", and the target price has been raised to HK $202.
The bank stated that the group has a strong model cycle and order backlog. Among them, the "ET7" model has been shipped in March, and the "ES7" is also expected to be launched in June and delivery will begin in August.
Bank of America also believes thatNioThe 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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