Bank of America Raises NIO Price Target to $6.70
BofA Securities analyst Ming Hsun Lee raised the price target on NIO (NYSE: NIO) to $6.70 (from $6.30) while maintaining a Neutral rating.
“NIO announced 4Q25 results and hosted a conference call on 10 March.
Total revenue came in at RMB34.7bn, up 76% YoY/59% QoQ and largely in line with our expectation.
The YoY growth was driven by 72% YoY vehicle sales volume growth and higher ASP (+5% YoY/+15% QoQ), upon a favorable product mix (more sales volume from ES8).
Overall GPM was up 5.8ppt YoY/3.7ppt QoQ to 17.5%, behind our expectation of 18.5%, on lower vehicle margin at 18.1% vs BofAe 19.5%. Opex to sales ratio came in at 15.2%, down 27.1ppt YoY/14.8ppt QoQ.
Operation income was RMB807mn, higher than the preliminary guidance of RMB200-700mn.
Non-GAAP net profit was RMB728mn in 4Q25 vs. net loss of RMB6.5bn in 4Q24, missing our estimate of RMB1.0bn, partially due to RMB529mn equity investment losses.
NIO first time turns profitable in single quarter.”
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