NIO (NIO) Management Call Takeaways - Citi

March 9, 2021 6:15 AM EST
Get Alerts NIO Hot Sheet
Price: $39.54 +1.65%

Rating Summary:
    10 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 12
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Citi analyst, Jeff Chung, reiterated a Neutral rating and $57.60 price target on NIO (NYSE: NIO) after hosting a call with management that yielded 5 takeaways:

  • NIO Pilot attach rate is ~45% and for selective package ~70%
  • Overseas market should have very minor impact in terms of financial performance this year but become important over the coming 3-5 years, China remains \the largest revenue source
  • Chip supply shortage will gradually be fixed into 3Q21, management believes NIO see little impact on production. The battery supply bottleneck is expected to fade from Jun/Jul-21 and mgmt. does not see any possibility for a battery price hike within 2021.
  • Production capacity is helped by NIO’s sharing all three models across lines, mgmt. expects the ET7 to share the same production capacity when it starts mass production in early-2022 as well. NIO expects total production capacity to reach 150k units per year per shift after completion.
  • NIO has plans for another sedan model (after ET7) which might be positioned towards the lower-end market. In 2-3 years, the company intends to launch different models that fit variable niche markets.

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

Shares of closed at $36.85 yesterday.

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