Nio Q4 highlights: Deutsche Bank analyst sees upside to $50

Nio Inc (NYSE: NIO) on Friday reported better-than-expected sales for its fiscal fourth quarter. Shares are still down 10% on weak guidance for deliveries.

Nio Q4 highlights

Gross profit margin stood at 17.2% - missing estimates by 0.4%, and down 3.1% sequentially. In the earnings press release, CEO William Bin Li said:

Guidance and analyst’s remarks

In fiscal Q1, Nio expects up to 26,000 deliveries versus analysts at roughly 28,000. Ahead of the earnings, Deutsche Bank’s Edison Yu reiterated Nio as his top pick and said on CNBC’s “Closing Bell”:

Yu has a price target of $50 on Nio that represents a 150% upside from here. At $20, the stock is down 40% for the year and more than 50% from its high in early November 2021.