Morgan Stanley Out on China EVs (NIO) (XPEV) (LI)
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Tesla (TSLA) Reports Strong August Sales Numbers in China
September 8, 2022 8:02 AM EDTTesla (NASDAQ: TSLA) reported their Chinese sales numbers for August selling 76,965 Chinese-made vehicles. According to Reuters, the company nearly tripled its sales from a month ago when scheduled upgrades disrupted most production.
The China Passenger Car Association (CPCA) said the electric carmaker exported 42,463 Model 3s and Model Ys from China last month. In July, it sold 28,217 vehicles and exported... More
NIO (NIO) PT Lowered to $42 at Mizuho Securities
September 7, 2022 12:59 PM EDTMizuho Securities analyst Vijay Rakesh lowered the price target on NIO (NYSE: NIO) to $42.00 (from $48.00) while maintaining a Buy rating following results.
Lower SepQ from RMB 14.2B/(0.83) to RMB 13.2B/(1.28), F22E from RMB 54.7B/(3.38) to RMB 55B/(4.05), and F23E... More
NIO (NIO) PT Lowered to $32 at US Tiger Securities Following EPS
September 7, 2022 12:33 PM EDTUS Tiger Securities analyst Bo Pei lowered the price target on NIO (NYSE: NIO) to $32.00 (from $35.00) while maintaining a Buy rating following earnings.
The analyst commented, "We are maintaining our BUY rating and decreasing PT to $32 (was $35) after NIO reported largely in line 2Q results, with 3Q guidance below consensus due to external factors but expects 4Q volume to rebound nicely. With 2Q... More
Waiting for EV Seasonal Demand; Morgan Stanley Says September is Crunch Time
September 6, 2022 11:25 AM EDT
China's EV market registered steady sales despite power rationing and a fresh round of Covid lockdowns. Entering September, China's weekly EV run rate is hovering at around 120k units. That's up 24% MoM but largely flat WoW after the month-end sales push in August.
Even as Chinas EV numbers track slightly behind the seasonal norm into early September, Morgan Stanley analyst, Tim Hsiao believes that it is still too early to say there's no meaningful seasonality this year.
Both NIO... More
