Nio to $21 from $20, keeping a Buy rating on the shares.

The analyst acknowledged that Nio “continues to frustrate” investors with further operational issues which are holding back volume in the fourth quarter, but he is “optimistic that the worse may finally be over.”

Yu explained that his view is backed up by the China's gradual move away from its Covid zero policy. However, the analyst added that the key will be to watch December sales as Nio will probably need to deliver something close to 20,000 units in volume to demonstrate its execution is improving.

A good sign!!!

$NIO Inc.(NIO)$ $NIO Inc.(NIO.SI)$ $NIO-SW(09866)$

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