Mizuho lowered the firm’s price target on Nio (NIO) to $3.50 from $4 and keeps a Neutral rating on the shares. Nio reported March quarter results and deliveries of 73.5K units, above the 69.9K consensus and up 75% quarter over quarter, the analyst tells investors in a research note. While China competition remains strong, the firm says June quarter deliveries guidance is stronger with 2025 model year refreshes and Onvo and Firefly continuing to ramp, while gross margin is expected to improve with new model launches. Mizuho sees Nio as fairly valued.
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