NIO (NIO) Management Call Takeaways - BofA Securities

BofA Securities analyst Ming Hsun Lee reiterated a Buy rating and $54.70 price target on NIO (NYSE: NIO) after hosting company management for investor calls on November 27th. The calls revealed the following key points:

• Management does not exclude the possibility of adopting LIDAR in future as long as it can provide the best user experience to car owners.
• NIO will host NIO Day in January 2021, introduce its first sedan model, and reveal more details on its next vehicle platform. Pricing and details are not available yet but autonomous driving will be a feature.
• NIO has 22 NIO Houses and 165 NIO Spaces, covering 105 cities as of November 2020. It plans to expand to 200 point of sales by end-2020 and plans to reach 300 point of sales in 2021.
• NIO will start to build its second generation battery swap stations in 2Q21 and targets to build 300 stations in 2021
• DFG and SAIC announced the plan to build high-end EV brands and may potentially increase the competition in the EV market.

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 $52.04 yesterday.

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