Deutsche Bank: NIO-SW (09866) Hits Record High in October Sales, Targets HK$82 Price
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Yesterday
NIO-SW (09866) achieved a record high in October sales, with a 93% year-on-year and 16% month-on-month increase to 40,397 vehicles, according to a Deutsche Bank report. The company's management expects Q3 automotive gross margin to rise from 10.3% to 13%-14%, driven by rapid sales growth and operational leverage. Deutsche Bank maintains a "Buy" rating with a target price of HK$82. The report highlights that the flagship ES8 SUV surpassed 10,000 cumulative deliveries within 41 days of launch. Weekly deliveries in October were approximately 6,400, 7,300, 10,600, and 10,300 vehicles from the first to fourth week, aligning with the total monthly delivery of around 40,000 units.
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