Nio Stock Price: $59 Target From Daiwa

By Amit Chowdhry ● December 20, 2020
  • This past week, Nio Inc (NYSE: NIO) received a price target of $59 from Daiwa. These are the details.

This past week, Nio Inc (NYSE: NIO) received a price target of $59 from Daiwa. Daiwa analyst Kelvin Lau initiated the rating of Nio with a “Buy.” The $59 price target imputes a 26.28% upside to the closing price of Nio on Friday.

Around that same time, Lau updated his positions on Li Auto and Xpeng as well. For Li Auto, Lau suggested a “Hold” position with a $33 price target (a 3.87% upside as of Friday). And for Xpeng, Lau offered a “Sell” rating at $32 (a 31% downside from the closing price on Friday).

Compared to Nio, Lau believes that Xpeng is vulnerable to price cuts by Tesla in China. But Lau offered a positive outlook on EV demand in China. The sales volume of electric vehicles in China is expected to increase from 9% in 2020 to 32% in 2021. And Lau is expecting to see advanced driver-assistance systems (ADAS) functionalities accelerate sales over the next 3 years.

Lau is not the only analyst who is bullish on Nio. Edison Yu of Deutsche Bank rated Nio with a “Buy” and $50 target price earlier this month. And Paul Gong of UBS offered a $55 price target with a “Hold” rating a couple of weeks ago. And on December 1, Fei Fang of Goldman Sachs suggested a $59 price target with a “Hold” rating.

Disclosure: I have a small NIO position in my stock portfolio.