The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0630 GMT – Nio’s sales volume growth is likely to stay strong into 2024 and 2025 after picking up momentum in October, HSBC analysts say in a note. The EV maker’s production ramp-up of key models and expected launch of a cheaper mass-market brand in 2025 will be growth drivers, they say. HSBC sees 2024-2025 sales volume growth at 40% and 24%, respectively. Though sales were weak in 3Q, the analysts reckon this has already been priced in and that Nio’s ADRs and H-shares look attractive, with valuations at historic lows. HSBC keeps a buy call on Nio but cuts its ADRs target to $10.70 from $18.00, and H-shares to HK$83.80 from HK$142.00 to factor in tougher competition in the EV market. H-shares last 3.3% lower at HK$57.95. (email@example.com)
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