Morgan Stanley Reiterates Overweight Rating on NIO (NIO), Comments on December Deliveries

Morgan Stanley analyst Tim Hsiao reiterated an Overweight rating and $66.00 price target on NIO (NYSE: NIO).

The analyst comments "10,489 cars were delivered in December, bringing NIO's full-year vehicle sales to 91,429 in 2021, up 109.1% YoY: December deliveries consisted of 2,782 ES8, 4,939 ES6,and 2,768 EC6. 4Q21 deliveries reached 25,034 units, largely flat QoQ with similar model mix of ES8 and ES6/EC6 despite greater MoM volatility. Large-scale rollout in 2022: ET7 delivery will start in March. Investors are focusing more on robust ET5 order inflow – NIO gauges that monthly sales volume will gradually reach 10k units after deliveries start in September. ET5's pricing – Rmb328k or Rmb258k with Battery as a Service (BaaS) – looks competitive vs. luxury brands' models, such as BMW 3-series and Mercedes C class. Aside from the ET7 and ET5 launches, NIO will have another model hit the market around mid-2022. NIO also plans to upgrade tech features of its current lineup – ES8, ES6, EC6 – likely in 1H22, to underpin its volume sales before the contribution of new models kicks in."

For an analyst ratings summary and ratings history on NIO click here. For more ratings news on NIO click here.

Shares of NIO closed at $32.42 yesterday.

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