Morgan Stanley Bullish on NIO Inc. (NIO): 'We believe the share price will rise in absolute terms over the next 15 days'
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Rating Summary:
13 Buy, 11 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Morgan Stanley analyst Tim Hsiao remains Overweight on NIO Inc. (NYSE: NIO) with $34.00 PT.
The analyst comments "We believe the share price will rise in absolute terms over the next 15 days. The stock has traded off lately partially due to lingering concerns over the suppressed sales amid the lockdown in Shanghai, which made up 15%+ of the company's sales in 2021. The associated production disruption also adversely affects the ramp-up/launch of NIO's new models and aggravates the market's concerns over NIO's sales momentum. With gradual reopening in the Yangtze River Delta region as well as the Rmb10k subsidy provided by the Shanghai government to consumers to replace old cars with electric cars, we believe NIO is well positioned to capitalize on such local stimulus programs and resume sales momentum in the upcoming months. We estimate that there is about a 70%."
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