Price rally: According to the balance sheet: analysts become NOK bulls | message

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?? NIO convinces with quarterly results
?? Strong increase in deliveries
?? Analysts are raising price targets significantly

The e-car industry has gained momentum in recent years, as the topic of environmental protection is becoming more and more important. There have already been reports that China may no longer allow cars with pure combustion engines from 2035 onwards.

Strong third quarter of 2020

The Chinese e-car manufacturer NIO is benefiting to a large extent from this trend. He was able to deliver more than 12,200 electric SUVs in the third quarter, after only around 4,800 in the same quarter of the previous year. As a result, sales grew by 146.4 percent to just under 667 million US dollars in the same period. In operational terms, a loss of around 140 million US dollars was reported, but it was at least able to be reduced.

In October alone, NIO was able to double the number of its deliveries to just over 5,000 electric SUVs compared to the previous year. This means that almost half of the deliveries that the electric car pioneer Tesla was able to achieve in China have already been achieved.

As the news agency “Bloomberg” reports, NIO particularly impresses its Chinese customers with attractive package deals. Although the NIO ES6 SUV is significantly more expensive than the Tesla Model 3, thanks to various battery and service offers, the costs for owners could be further reduced over time.

Course objectives raised

Although NIO was still unable to generate any profits, analysts reacted enthusiastically to the latest quarterly results and significantly raised their price targets for the Chinese e-vehicle manufacturer.

According to the US broadcaster “CNBC”, Bank of America has more than doubled its price forecast from originally 23.00 to 54.70 US dollars. The analysts at Credit Suisse have also more than doubled their NIO price target, namely from originally 25.00 to 60.00 US dollars. Deutsche Bank and JPMorgan have also become more optimistic. You would now see the price target at $ 50.00 each, down from just $ 34.00 and $ 46.00 respectively.

The share price has already reacted and last closed on the NYSE (as of November 23, 2020) at 55.38 US dollars. This means that investors can look forward to an incredible increase of over 1,100 percent since the beginning of the year.

Promising prospects

The analysts believe that NIO has great long-term growth potential in China but also in overseas markets. The company has just announced its first electric sedan and is also planning to launch a new model every year. The fact that NIO would like to achieve a range of its e-vehicles of 900 km with its technical solution also caught people’s attention.

In addition, the Tesla competitor benefits from subsidies from Chinese local authorities and has only recently received billions in support.

Finanzen.net editorial team

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