Macquarie Initiates Coverage On Nio, XPeng With Outperform Rating

Shivani Kumaresan

Wed, Jan 12, 2022, 10:19 AM1 min read

In this article:

Macquarie analyst Erica Chen initiated coverage on Nio Inc (NYSE: NIO) with an Outperform rating and $37.70 price target, implying a 22% upside.
Chen noted Nio is the earliest electric vehicle start-up in the market with a focus on the affordable luxury auto segment and customer service.
The analyst forecasts 31% annual electric vehicle unit sales growth for China and 52% annual revenue growth for Nio through 2024.
Chen added battery swapping is one of the means for energy replenishment and Nio is a "big supporter of this business model, which is promoted by the China government."
Chen initiated coverage on XPeng Inc (NYSE: XPEV) with an Outperform rating and HK$221 price target.
Price Action: NIO shares traded higher by 3% at $30.92, and XPEV higher by 3.73% at $47.47 on the last check Wednesday.

Latest Ratings for NIO

Jan 2022	Macquarie	Initiates Coverage On	Outperform
Nov 2021	Deutsche Bank	Reiterates	Buy
Oct 2021	Bernstein	Initiates Coverage On	Market Perform

View More Analyst Ratings for NIO
View the Latest Analyst Ratings

See more from Benzinga

Mark Zuckerberg got $24.4 million in ‘other compensation’ in 2023—but Meta also treated staff well, with the median employee making $379,000
On paper, Mark Zuckerberg is Meta’s lowest-paid employee, with a $1 dollar salary and no bonus.
Fortune•19h ago
$433 Billion Gone! One Stock Loses More Value Than Tesla
Tesla's loss of $328.3 billion this year in stock value certainly hurts. But it's only the second-largest market value loss in the S&P 500.
Investor's Business Daily•19h ago
Analysts reset Microsoft stock price targets ahead of highly anticipated earnings
Microsoft, which overtook Apple as the world's most valuable company earlier this year, is looking to cement its AI market leadership.
TheStreet•7h ago
China's Temu Takes Over 17% Of US Market Share, Cutting Jobs From American Amazon And Decimating Small Businesses
With rising inflation, American consumers are increasingly turning to the Chinese e-commerce platform Temu for their shopping needs. With its enticing tagline “Shop like a billionaire,” Temu has captured 17% of the U.S. market share, posing a challenge to traditional American retailers such as Amazon.com Inc., Dollar Tree Inc. and Five Below Inc. The rise highlights the lucrative and disruptive nature of startups. Owned and operated by PDD Holdings Inc. (NASDAQ:PDD), Temu offers a wide range of
Benzinga•10h ago
Analysts reboot Amazon stock price target ahead of earnings
This is what could happen next to Amazon shares.
TheStreet•7h ago
Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?'
Finance expert Suze Orman has voiced concerns about the impact of climate change on property insurance costs, asserting it could threaten the American dream of homeownership. Orman, 72, faced a $28,000 annual insurance quote for her Florida oceanside condo, leading her to forego coverage entirely. She highlights a troubling trend where soaring insurance costs driven by frequent and severe weather events may deter Americans from buying homes. Don't Miss: For many first-time buyers, a house is abo
Benzinga•2d ago
Meta stock plummets 15% after second quarter outlook disappoints
Meta reported its Q1 earnings after the bell, beating analysts' expectations on the top and bottom, but a disappointing Q2 forecast sent shares falling.
Yahoo Finance•10h ago
Should You Buy Super Micro Computer Stock Before Earnings?
Super Micro Computer stock has many investors interested in its quickly approaching update.
Motley Fool•10h ago
Slow, but solid US economic growth anticipated in Q1; inflation likely heats up
U.S. economic growth likely slowed to a still-solid pace in the first quarter while inflation accelerated, reinforcing financial market expectations that the Federal Reserve would delay cutting interest rates until September. The Commerce Department's snapshot of first-quarter gross domestic product on Thursday is expected to show consumers still doing the heavy lifting for the economy, thanks to a resilient labor market. The economy has defied prophecies of doom since late 2022 following the U.S. central bank's aggressive rate hiking campaign to snuff out inflation.
Reuters•3h ago
Ex-Googler and Palestinian-American fired for opposing Project Nimbus speaks out: ‘This was not my idea of what the American workplace should be’
Several fired Google employees spoke at a press conference Monday about their experiences.
Fortune•2d ago

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Macquarie Initiates Coverage On Nio, XPeng With Outperform Rating

Recommended Stories

Mark Zuckerberg got $24.4 million in ‘other compensation’ in 2023—but Meta also treated staff well, with the median employee making $379,000

$433 Billion Gone! One Stock Loses More Value Than Tesla

Analysts reset Microsoft stock price targets ahead of highly anticipated earnings

China's Temu Takes Over 17% Of US Market Share, Cutting Jobs From American Amazon And Decimating Small Businesses

Analysts reboot Amazon stock price target ahead of earnings

Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?'

Meta stock plummets 15% after second quarter outlook disappoints

Should You Buy Super Micro Computer Stock Before Earnings?

Slow, but solid US economic growth anticipated in Q1; inflation likely heats up

Ex-Googler and Palestinian-American fired for opposing Project Nimbus speaks out: ‘This was not my idea of what the American workplace should be’