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CICC Reaffirms Their Buy Rating on NIO Inc. Class A (9866)
In a report released on April 10, from CICC maintained a Buy rating on NIO Inc. Class A, with a price target of HK$61.50. The company’s shares closed last Friday at HK$48.76.
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NIO Inc. Class A has an analyst consensus of Strong Buy, with a price target consensus of HK$57.47.
Based on NIO Inc. Class A’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of HK$19.01 billion and a GAAP net loss of HK$5.14 billion. In comparison, last year the company earned a revenue of HK$17.45 billion and had a GAAP net loss of HK$5.13 billion
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