NIO Stock Jumps 8% as J.P. Morgan Raises Price Target to $8

A Morgan Stanley research report indicated that NIO’s monthly sales are expected to reach 40,000 to 50,000 units starting in October.

Today, NIO’s stock price opened significantly higher, with an intraday increase of over 8%, continuing its recent strong upward trend. Data shows that over the past three trading sessions, NIO’s cumulative gain has reached nearly 40%, bringing its market capitalization to HKD 122.1 billion ($17.0 billion).

These figures reflect the market’s confidence in NIO, driven by J.P. Morgan’s latest rating adjustment. The institution upgraded NIO’s rating from “Neutral” to “Overweight” and raised the target price from $4.8 to $8.

J.P. Morgan analysts pointed out that NIO’s performance in the electric SUV market has been particularly strong, with sustained increases in orders for the ONVO L90 and the all-new ES8, demonstrating consumers’ enthusiasm for the new models.

According to official data, during the week of August 18 to August 24, NIO’s weekly sales reached 7,571 units, with the ONVO L90 contributing 2,542 units. Since its delivery began on August 1, cumulative deliveries of the ONVO L90 have exceeded 8,900 vehicles.

Additionally, according to information shared by NIO President Qin Lihong, pre-sales orders for the all-new ES8 have surpassed those of the ONVO L90 during the same period. He stated that NIO will ensure sufficient production capacity based on order volumes to maintain the delivery momentum for the all-new ES8 in the initial phase.

Meanwhile, a Morgan Stanley research report indicated that NIO’s monthly sales are expected to reach 40,000 to 50,000 units starting in October. Although this projection is contingent on the actual conversion rate of orders, the market’s positive response has provided a significant boost of confidence to NIO’s investors.