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<Research>G Sachs Chops NIO-SW (09866.HK) TP to $27, Cuts Profit Forecasts
Recommend 2 Positive 8 Negative 5 |
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NIO-SW (09866.HK) has been losing NEV market share since 2020 from 3.9% to 2.3% in 2024, Goldman Sachs released a research report saying. The broker believed that NIO-SW's main brand has limited new models this year, and its Onvo production expansion is slow. Therefore, NIO-SW is in an unfavorable position this year, while competition is likely to intensify from 1Q25. Goldman Sachs chopped its target price for NIO-SW's H-shares from $30 to $27, with rating at Sell, and predicted that lukewarm order momentum, slow production expansion & delivery and intensified price competition would be the catalysts for its downside share price. In addition, Goldman Sachs lowered its FY2024-FY2026 non-GAAP net profit forecasts for NIO-SW from the original -RMB17.8 billion/ -RMB16.5 billion/ -RMB12.4 billion to losses of -RMB18.6 billion/- RMB17.5 billion/ -RMB13.6 billion, respectively. AAStocks Financial News |
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