- The shares of NIO Inc (NYSE: NIO) have received a $66 price target from Morgan Stanley. These are the details.
The shares of NIO Inc (NYSE: NIO) have received a $66 price target from Morgan Stanley. And Morgan Stanley analyst Tim Hsiao assigned NIO an “Overweight” rating.
“The stock has lagged peers YTD as growth stalled on the component crunch, plant restructuring, and no new products,” wrote Hsiao in a research note via TipRanks. “However, it’s time to turn the page – a superior ecosystem, broadening customer and distinct branding make the setup unique and favorable for NIO to gather strength into 2022.”
NIO started successfully deploying ET7 model off the assembly line on November 29. And the vehicle is set for a release at the end of Q1 2022. Hsiao noted that this pre-production gives NIO a 3-month lead time for ramping up output and preparing the manufacturing necessities. Getting the ET7 to market on time would increase investor confidence in the company’s pipeline — which includes the launch of the ET5 and is scheduled for mid-2022.
Hsiao also believes that NIO will benefit from its robust user ecosystem and strong brand.
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