UBS lowered the firm’s price target on Nio to $7.20 from $8 and keeps a Neutral rating on the shares. Management’s next ambition is the mass-market brand Alps program, but UBS doubts the visibility of any loss-narrowing driven by that, given BYD’s volume dominance and absolute cost advantage in that market, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on NIO: