Nomura issued a research report stating that NIO-SW (09866.HK) -1.720 (-3.379%) Short selling $168.18M; Ratio 42.313% s new vehicle models have an optimistic outlook and are expected to further improve its business and financial conditions. The broker reiterated its Buy rating on NIO (NIO.US) US shares and raised the TP to USD8.6 from the previous USD6.6, equivalent to a forecast 26 price-to-sales ratio of 1.1x. The stock is currently trading at a forecast 26 price-to-sales ratio of 0.9x.The broker noted that following the launch of the ES9 model, the flagship SUV has made a solid start and is expected to pave the way for two additional SUV models to be launched in the coming months. The broker raised its delivery forecasts for FY2026FY2028 by 0.2% to 3.3% and expects a 20252028 delivery CAGR of 26%. It also lifted its revenue forecasts for FY2026FY2028 by 4.6% to 6.9%, projecting a 20252028 revenue CAGR of 24%.In addition, the broker increased its gross margin forecasts for FY2026FY2028 by 0.5 to 1 ppts and raised its operating expense forecasts by 6.9% to 13.1%, while maintaining its expectation that the company will achieve non-GAAP operating breakeven in FY2026.Given the solid outlook for new models, the broker believes the company has ample upside potential amid operational and financial improvements. (sl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-24 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
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