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<Research>M Stanley Expects NIO (NIO.US) Onvo L90 Monthly Sales to Reach 5K Units w/ Rating Overweight
Recommend 2 Positive 8 Negative 1 |
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NIO-SW (09866.HK)(NIO.US) saw its H-share price surge over 10% yesterday (14th), mainly due to solid order volumes for the Onvo L90 model, according to Morgan Stanley's research report. Channel information from the broker reflects that orders have reached between 30,000 to 35,000 units. Although this is still below the over 60,000 units pre-sale performance of the Onvo L60 in 3Q24, the market's expectations for L90 sales appeared way lower. The Onvo L90 offered superior interior space and configuration specifications, especially if the official price is lower than its pre-sale price, making it highly competitive among models priced below RMB300,000, Morgan Stanley noted. Therefore, the broker anticipated that monthly sales of the L90 surpassing 5,000 units should not be difficult. Therefore, Morgan Stanley now rated NIO-SW's US stock at Overweight, with a target price of US$5.9. AASTOCKS Financial News Website: www.aastocks.com |
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