As previously reported, Macquarie raised the firm’s price target on Nio (NIO) to $6.10 from $5.30 and keeps an Outperform rating on the shares after raising its FY26 volume estimate by 7% on stronger ES8 and Firefly demand. While the firm still expects to see margin compression and a larger net loss in FY26, the firm thinks volume growth near 40% is “achievable,” which implies that Nio will be able to gain market share in a broadly weak market for China EVs.
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