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Asian Equities Traded in the US as American Depositary Receipts Fall in Tuesday Trading
Nio (NIO) Is Looking to Bounce Back After Q3 Mixed Results
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[Brokerage Focus] Goldman Sachs cuts NIO (09866) target price by 21%, rating downgraded to "Sell", pointing to intensified competition in the first quarter of next year.
Goldman Sachs released research reports, stating that NIO (09866) will launch a limited number of new models in 2025. Due to only one new model being introduced, combined with management's focus on the 2025 gross margin target guidance of 15%-20%, Goldman Sachs predicts that NIO's sales volume will increase by 5% in 2025, from 0.201 million vehicles in 2024 to 0.21 million vehicles. In addition, Onvo's production growth is slow, which will put the group at a disadvantage in 2025, and competition may intensify starting from the first quarter of next year. Furthermore, as NIO continues to expand the sales network of the Onvo brand, the bank estimates marketing expenses.
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