NIO earnings, commodity outlook, rig count: 3 things to watch
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Morgan Stanley on NIO (NIO): 'the market's focus will likely soon shift back to execution after today's rally'
June 12, 2023 11:49 AM EDTMorgan Stanley analyst Tim Hsiao reiterated an Overweight rating and $12.00 price target on NIO (NYSE: NIO)
The analyst comments "Following price cuts today, NIO maintained the volume and margin guidance provided on 1Q earnings call. More operational details shared during the NDR help... More
NIO Inc. (NIO) slashes prices and ends free battery swapping
June 12, 2023 9:00 AM EDTChinese electric automaker NIO Inc. (NYSE: NIO) revealed Monday its decision to reduce prices across all models and discontinue free battery swapping services for new customers. This move comes as the Chinese automaker grapples with financial losses and lackluster sales, placing them under increasing scrutiny and... More
NIO Inc. (NIO) receives downgrades and adjusted price targets following disappointing 1Q23 and deliveries
June 12, 2023 8:32 AM EDTNomura and CMB International Global Markets (CMBIS) downgraded NIO Inc. (NYSE: NIO) from Buy ratings to Neutral and Hold ratings respectively. Nomura cut their 12-month price target on the stock to $7.50 (From $25.80), while CMBIS cut their price target to $8.00 (From $21.00) following the electric automakers disappointing 1Q23 earnings miss and delivery numbers.
In the first quarter of 2023, NIO achieved 31,041 deliveries, which fell within the expected range of 31,000-33,000 units. However, the recorded revenue amounted to CNY10.7 billion, slightly below the projected range of CNY10.9-11.5 billion.
NIO reported 1Q Gross margin at 1.5%,... More
Rivals GM and Ford will adopt Tesla's NACS charging connectors, will Stellantis follow?
June 9, 2023 11:25 AM EDTGeneral Motors (NYSE: GM) jumped 3.7% at the open on Friday after the company announced yesterday that the Detroit automaker will be partnering with Tesla (NASDAQ: TSLA) to open the EV giants supercharger network to GM customers. The move follows a similar announcement by neighboring rival Ford (NYSE: F) on May 26th, prompting analysts to ask the... More
