CICC Remains a Buy on NIO Inc. Class A (9866)

CICC analyst maintained a Buy rating on NIO Inc. Class A yesterday and set a price target of HK$61.50. The company’s shares closed yesterday at HK$42.78.Meet Samuel – Your Personal Investing ProphetStart a conversation with TipRanks’ trusted, data-backed investment intelligence

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NIO Inc. Class A has an analyst consensus of Strong Buy, with a price target consensus of HK$58.90, implying a 37.68% upside from current levels. In a report released yesterday, DBS also maintained a Buy rating on the stock with a HK$60.00 price target.

Based on NIO Inc. Class A’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of HK$19.01 billion and a GAAP net loss of HK$5.14 billion. In comparison, last year the company earned a revenue of HK$17.45 billion and had a GAAP net loss of HK$5.13 billion