![]() In a new note, Lee said Nio is on track for a number of product launches and updates between now and the end of 2024. Matrixyesterday $NIO conversation $NIO conversation "Finally, Bank of America analyst Ming Hsun Lee hosted a conference call with Nio management on Monday to discuss details of the company's strategic outlook. ![]() Yet Nio's stock may continue to struggle from outside pressures, including short sellers and its own government." Altro Benzinga's Take: The Bank of America report suggests Nio's underlying business is booming as it ramps up production, rolls out new vehicles and pushes toward profitability. Bank of America has a Buy rating and $31 price target for Nio. Nio also said it expects to transition to profitability in 2025. "NIO is targeting EBITDA to break even in 4Q23, with a quarterly delivery of over 100k units, similar to what its rival Tesla achieved previously," Lee said. Management said Nio has increased its daily production capacity from 400 units to 600 units, and orders for both the ES7 and ET7 have been strong. Yet Nio's stock may continue to struggle from outside pressures, including short sellers and its own government.$NIO conversation "Finally, Bank of America analyst Ming Hsun Lee hosted a conference call with Nio management on Monday to discuss details of the company's strategic outlook. ![]() ![]() Yet Nio's stock may continue to struggle from outside pressures, including short sellers and its own government." Más $NIO conversation "Finally, Bank of America analyst Ming Hsun Lee hosted a conference call with Nio management on Monday to discuss details of the company's strategic outlook.
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