UPDATE: Citic Securities Starts NIO (NIO) at Buy, 'New Power Leader in Car Building, Creating a New Ecosystem'
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Citic Securities analyst Jiancong Yuan initiates coverage on NIO (NYSE: NIO) with a Buy rating and a price target of $45.00.
The analyst comments "Customer experience as the core, to create intelligent and new ecological competitive advantage. After the dark moment of 2019, the company has set sail again and continues to build a competitive advantage: 1) ecological innovation. Focus on customer experience and feelings, focus on the development of sales, service and replenishment network, gather fans and user reputation, create a differentiated business model, user recommendation accounted for more than 60% of transactions. 2) Adhere to positive research and development to enhance brand power and product power. From high-end models, the model lineage continues to expand and build brand power. The new ET7 will adopt the latest technologies such as AQUILA super sensing system, ADAM supercomputing platform, and autonomous driving vehicle platform, leading intelligent technology. 3) Power mode innovation. Through the new business model of BaaS+ power station, the company improves the vehicle owner's power experience, reduces the cost of first car purchase, and opens up space."
Shares of NIO closed at $35.83 yesterday.
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