MMacquarie NNIO · NIO
Macquarie Downgrades Nio’s Rating to Neutral
Rating
Hold
Price target
$5.3
Previous
$6.7
Implied downside
-4%
Macquarie analyst Eugene Hsiao downgraded Nio from ‘Outperform’ to ‘Neutral,’ while lowering the price target to $5.30 (from $6.70).
“Vehicle margin of 14.7% the highlight of Q3 as Onvo L90 and ES8 contributed to better mix; should rise to ~18% into 4Q25.
- Weak Q4 vol. guidance of 122.5k at the midpoint below prev. guidance of 150k partly due to impact from phase out of govt. subsidies on Onvo demand.
- We cut our HK/US TPs by 23%/21% on slower FY26 market demand and apply a peer average 0.8x FY26E P/S. Downgrade to Neutral.”
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The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
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