UPDATE: NIO (NIO) PT Raised to $66 at Morgan Stanley
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Morgan Stanley analyst Tim Hsiao raised the price target on NIO (NYSE: NIO) to $66.00 (from $64.00) while maintaining a Overweight rating.
The analyst comments "We now expect NIO to book a small loss (nearly break-even net profit) in 2022, with a net loss of Rmb121mn versus a profit of Rmb3.1bn previously, largely due to continuous investment in distribution channels,volume promotion as well as - more importantly - R&D investment. Taking the aforementioned factors into consideration, we also expect NIO's net profit in 2023to reach Rmb8bn."
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