Morgan Stanley Reaffirms Nio’s ‘Overweight’ Rating
Morgan Stanley analyst Tim Hsiao reiterated on July 10, 2025, an ‘Overweight’ rating and $5.90 price target on Nio.
“NIO unveiled the Onvo L90 today at a pre-sale price of Rmb279.9k, or Rmb193.9k for the BAAS (battery-as-a-service) option.
The official pricing will likely come in below market expectations of Rmb270-280k.
Delivery will start on August 1. The large SUV comes with 900V charging, AR-HUD, air suspension, smart fridge, and L2+ smart driving features (based on Nvidia Orin-X + vision only solution).
Could aggressive specs/pricing remedy unproven branding/execution?
L90’s interior space and specs are fairly competitive vs. large 6-seater SUVs, like Li Auto L9, AITO M9, Lynk 900, and Denza N9, albeit with a much more competitive price matching sub-300k models such as Li Auto L6, AITO M7, XPeng G9, WEY Lanshan, and Xiaomi YU7.
Although we strongly re cognize Onvo L90’s advantages in the crowded race, beating market expectations isn’t without challenges considering Onvo’s unsatisfactory track record of execution and inferior brand awareness, which require extra effort for Onvo to leverage L90 and upcoming L80 to overcom the deficit.”
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