Citi raised the firm’s price target on Nio to $8.90 from $7 and keeps a Buy rating on the shares. The firm increased volume estimates through 2026 to factor in sector consumption trends. It also boosted the stock’s multiple given the upcoming Tesla Robotaxi event potentially boosting sentiment and car sales high season in Q4. Citi sees a potential near-term catalyst for Nio shares from Onvo’s order intake during Golden Week holiday, before promotion benefits end on October 8. If Onvo is successful, it may strengthen investors’ confidence on the company’s Firefly brand, the analyst tells investors in a research note.
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