extended their rally on Thursday and also lifted ADRs from competitor Li Auto Inc. LI,
and XPeng Inc. XPEV,
One day after analysts at Citi raised their target price on Nio and began reporting on Li and XPeng. Citi analysts have raised their target for Nio’s ADR price from $ 33.20 to $ 46.40 “to reflect our increasingly positive industry outlook and the higher upside prospects of (Nio) ‘s autonomous travel subscription business model,” said Citi it in a communication this week. The target implies an uptrend of around 17% from Nio’s Thursday prices. Analysts rated Li Auto the equivalent of Hold, saying the company will break even in 2022 thanks to sales growth and improved margins. Citi valued XPeng at the time of purchase and expected the company to see revenue grow 57% over the next five years and break even in 2024. Nio’s ADRs are up 900% this year, compared to a gain of around 9% for the S&P 500 index. SPX,
XPeng’s BEV market share doubles to 6% by 22E. We assume that XPeng’s market share in 22E will increase from 3% in 20E to 6% of Chinese BEV sales as 1) competitive products with the highest NEDC range on the market (P7: 706 m / load) , 2) Rapid development of autonomous driving technologies (currently: L2, 1Q21: L3) with more frequent upgrades for higher visibility, 3) Position as one of the few providers with FOTA upgrade capability (best-in)
These were the details of the news Nio, other Chinese EV maker, are boosting profits after Citi’s calls for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at de24.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.