Nomura: NIO's fourth-quarter performance exceeds expectations, maintains "Neutral" rating

AASTOCKS
2026.02.06 06:15

Nomura published a report stating that driven by the launch of new models and improvements in operational efficiency, Nio (09866.HK) expects both GAAP and non-GAAP operating profits to turn positive in the fourth quarter of 2025. Compared to the previous forecast that the fourth quarter of 2025 would reach breakeven, the firm believes this performance exceeds expectations.

The firm believes that the new models Nio plans to launch in 2026, such as the ES9 expected to be launched in the second quarter and the L80, as well as the ES7 expected to be launched in the third quarter, will help the company further enhance its market position and improve its financial situation if these models can continue the similar trend of the ES8 and L90. The firm maintains a "Neutral" rating on Nio (NIO.US) stock with a target price of $8.40

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