On October 29, Uoohui | Nio Inc-SW(9866.HK) opened sharply higher today, rising more than 12% to 46.8 Hong Kong dollars at one point. In the overnight U.S. stock market, Nio Inc closed up 10.46% at $5.81, equivalent to HK$45.85 per share. Macquarie released research reports, upgrading Nio Inc's rating from 'Neutral' to 'Buy', with a target price reduced from HK$64 to HK$52, and Nio Inc ADR (NIO.US) target price increased from $5 to $6.6. Macquarie stated that it expects Nio Inc to release guidance during the third quarter earnings period that exceeds expectations and has made slight adjustments to sales estimates. Analysts expect Nio Inc's fourth quarter sales performance to accelerate, mainly driven by strong orders for the newly launched mass market model ONVO L60, while the upcoming new brand Firefly to be launched early next year is expected to become a potential upward driver for the company. The analysis expects that the aforementioned reasons are likely to catalyze stock price performance and outperform peers in the near future. (Uoohui)