These Analysts Slash Their Forecasts On NIO After Q1 Results
Portfolio Pulse from Lisa Levin
NIO Inc reported Q1 FY23 sales growth of 7.7% YoY, missing consensus estimates. The company expects a decline in Q2 revenue and announced price cuts on all new models. Analysts from B of A Securities, JP Morgan, and Citigroup have lowered their price targets on NIO.
June 12, 2023 | 11:06 am
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NIO's Q1 sales missed estimates and the company expects a decline in Q2 revenue. Analysts from B of A Securities, JP Morgan, and Citigroup have lowered their price targets on the stock.
NIO's Q1 sales missed estimates, and the company expects a decline in Q2 revenue. This negative outlook, combined with the announcement of price cuts on new models, has led analysts to lower their price targets on the stock. This could result in a short-term negative impact on NIO's stock price.
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IMPORTANCE 80
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