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  • Major bank rating | DBS Bank: NIO autos expected to achieve stronger profitability Target price raised to 65 Hong Kong dollars

大行评级｜星展银行：蔚来汽车有望实现更强劲盈利 上调目标价至65港元

Major bank rating | DBS Bank: NIO autos expected to achieve stronger profitability Target price raised to 65 Hong Kong dollars

Gelonghui Finance ·  Nov 28, 2024 22:08

DBS analyst Rachel Miu wrote in a report that with the potential rise in sales of the new Onvo L60 model and the acceleration of overseas expansion, NIO is likely to achieve stronger earnings. Miu said that the Onvo L60 sold 832 units in the first month, and sales are expected to increase for the rest of the year. Furthermore, NIO Auto's expansion into the Middle East and North Africa through a joint venture agreement may further boost the company's sales. DBS Bank maintained its buy rating for the share and raised its target price from HK$57 to HK$65.

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