BofA raised the firm’s price target on Nio (NIO) to $7.10 from $5 and keeps a Neutral rating on the shares after the company’s Q2 non-GAAP net loss came in better than BofA forecast. The firm expects 2025 and 2026 non-GAAP net loss to narrow by 7% and 50% versus its previous estimates and forecasts 2027 adjusted profit to turn positive, the analyst tells investors in a post-earnings note.
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