CLSA Trims Nio’s Price Target

CLSA analyst Aaron Li lowered on August 10, 2022, Nio’s price target from $30 to $27.50, keeping a ‘Buy’ rating on the stock.

“We maintain our profit forecasts or XPeng-US and XPeng-HK, and we give the same 12 month forward P/S ratio to XPeng as NIO.

Our target market capitalization is USD30.2bn based on 2.1x 12-month forward P/S ratio (previous P/S ratio was 5x on 22CL sales revenue) and we set the new target price for XPeng-US at $35 (previous $42.00) and XPeng-HK at HK$136 (previous HK$164). We maintain a BUY.”

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