Nio Inc Class A ADR Stock Forecast:
According to a forecast from 10 analysts, the average target price for Nio Inc Class A ADR stock over the next 12 months is USD 13.19. The average analyst rating for the stock is “Buy.” However, Stock Target Advisor‘s own analysis of Nio Inc Class A ADR suggests a bearish outlook, based on 1 positive signal and 6 negative signals. The stock closed at USD 7.73 in the last trading session. Over the past week, the stock price has increased by +2.25%, but it has decreased by -8.52% over the past month and -57.39% over the last year.
Analysts Coverage Change:
- Nio Inc. received a downgrade from Nomura, changing their rating from Buy to “Neutral”, and slashed the target price to $7.5 from $25.8.
- J.P. Morgan Chase & Co maintains their Neutral rating for Nio Inc. and lowered the target price to $8.5 from $10.
- Citigroup maintains their Buy rating for NIO:NYE and lowered the target price to $11.5 from $13.4.
- Bank of America Merrill Lynch maintains their Buy rating for Nio Inc. and lowers the target price to $11 from $12.1.
Nio Inc. News:
Chinese electric vehicle (EV) maker Nio Inc. has announced significant changes to its pricing strategy and service offerings as the company faces mounting pressure over earnings losses and lukewarm sales. The decision to lower prices for all its models and discontinue free battery swapping services to new buyers reflects Nio’s efforts to adapt to market demands and improve its financial performance.
Effective June 12, Nio will implement a price reduction of $4,200 across all models, including its revamped ES6 and ES8 sports utility vehicles. This move translates into discounts ranging from 6% to 9% on Nio cars. In addition to the price adjustment, the company will no longer provide free battery swapping services to buyers who place deposits on or after Monday.
Nio’s Chief Executive, William Li, acknowledged that these changes had been deliberated internally for a considerable period. The company sought advice and suggestions from users before finalizing the adjustments. “It is the best timing to publish it… but we can’t make everyone happy,” Li stated on the company’s social media app, emphasizing the necessity of these strategic moves.
