Macquarie Boosts NIO’s Stock Outlook (SEHK:9866)

Published On: October 29, 2024 3:42 am

Macquarie Boosts NIO’s Outlook with Promising Price Forecast

Fintel reports that on October 28, 2024, Macquarie upgraded their outlook for NIO (SEHK: 9866) from Neutral to Outperform.

Analysts See Significant Upside Potential

As of October 22, 2024, the average one-year price target for NIO is HK$58.74 per share, suggesting a potential rise of 41.36% from its latest closing price of HK$41.55 per share. The forecasts vary widely, with estimates ranging from a low of HK$30.92 to a high of HK$152.68.

Strong Revenue Growth Expected

NIO’s projected annual revenue stands at HK$124,935 million, indicating an impressive increase of 96.67%. However, the anticipated annual non-GAAP EPS is -0.47.

Fund Sentiment and Institutional Holdings

Currently, 36 funds or institutions are holding positions in NIO, showing a decrease of 1 owner or 2.70% over the last quarter. The average portfolio weight for these funds in NIO is 0.27%, which has increased by 21.84%. Additionally, total shares owned by institutions have risen by 5.19% in the past three months, now totaling 49,892K shares.

Institutional Shareholders’ Movements

HK:9866 / NIO Inc. Shares Held by Institutions

Among the notable institutional stakeholders:

VGTSX – Vanguard Total International Stock Index Fund Investor Shares: Holds 18,700K shares (0.96% ownership), up 3.78% from 17,994K shares. However, its portfolio allocation in NIO decreased by 7.57% last quarter.
VEIEX – Vanguard Emerging Markets Stock Index Fund Investor Shares: Owns 17,429K shares (0.89% ownership), up 0.80% from 17,290K shares, yet reduced its portfolio allocation in NIO by 8.20% last quarter.
VEU – Vanguard FTSE All-World ex-US Index Fund ETF Shares: Holds 2,627K shares (0.13% ownership), reflecting a minor increase of 0.51% from 2,614K shares, with a portfolio allocation drop of 8.43% last quarter.
XT – iShares Exponential Technologies ETF: Holds 2,115K shares (0.11% ownership), down 1.05% from 2,137K shares, with an 11.66% portfolio allocation decrease.
IDRV – iShares Self-Driving EV and Tech ETF: Owns 1,739K shares (0.09% ownership), representing a significant increase of 15.86% from 1,464K shares, and boosted its portfolio allocation in NIO by 27.84% last quarter.

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