It is learned on November 8 from sources (Flush Financial Research Center, etc), Deutsche Bank has maintained NIO’s rating as a buy, and the latest target price is $20.
Previously, NIO released its 2022 interim report on September 7. As of June 30, 2022, the company’s operating income was 20.203 billion yuan, a year-on-year increase of 22.96%, net profit was -4.540 billion yuan, and basic earnings per share was -2.80 yuan.
Ahead of the coming company’s Q3 earnings report, Deutsche Bank Securities reiterated a Buy rating on NIO, and lowered the price target to $20.00 from $39.00. The electric vehicle maker is scheduled to report Q3 earnings this Thursday, Nov. 10th before US market opens.
Deutsche Bank is expecting NIO to report a “mostly decent quarter.” However, analysts believe that investors’ attention will be focused on the Q4 delivery outlook.