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<Research>CLSA: NIO (NIO.US)'s 3Q24 Results In Line; Rating Outperform Kept
Recommend 3 Positive 6 Negative 2 |
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CLSA's report said that NIO (NIO.US)'s 3Q24 GPM came in at 10.7%, in line with street consensus, and that the company guided shipments of 72,000-75,000 units in 4Q25. Cash on hand remained healthy at RMB42.2 billion at the end of 3Q24, compared with RMB41.6 billion at the end of 2Q24. CLSA believed the new Firefly brand will help NIO tap into more market segments and support sales growth in 2025. NIO said two SUVs under the Onvo brand will be rolled out in 2025 to fulfill a pipeline targeted at family users. With intact forecasts, the broker maintained its target price of US$6 and Outperform rating on NIO. AAStocks Financial News |
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