Nio Analyst Sees Tougher Path To Profitability, Downgrades EV Maker To Sell: What You Need To Know
Nio Analyst Sees Tougher Path To Profitability, Downgrades EV Maker To Sell: What You Need To Know
Nio's compact Firefly SUV is expected to be launched in the first quarter, but Goldman anticipates limited volume of around 9,000 units in 2025. Moreover, the analyst expects the EV maker to have a tough time meeting margin targets as competition and scale act as headwinds. Nio Inc (NYSE:NIO) shares are trading lower. Goldman Sachs on Monday downgraded the EV maker to Sell and cut the price target. Here's a look at what you need to know.
蔚來公司（紐交所：NIO）股票正在下跌。高盛在週一將這家電動車製造商的評級下調至賣出，並下調了價格目標。以下是您需要了解的內容。
What To Know: Goldman Sachs analyst Tina Hou downgraded Nio from Neutral to Sell and lowered the price target from $4.80 to $3.90 citing competitive pressures and a difficult path to profitability ahead.
要點：高盛分析師霍婷婷將蔚來的評級從中立下調至賣出，並將價格目標從4.80美元下調至3.90美元，理由是競爭壓力和麪臨的盈利能力困難。
The Goldman analyst believes Nio is unfavorably positioned heading into 2025 given the slow production ramp of Onvo and the company's limited new model pipeline. Nio is expected to launch one new model in 2025. Hou expects Nio to be in a "relatively passive position" to try to keep up with launches from competitors.
高盛的分析師認爲，考慮到Onvo的生產提升緩慢和公司新車型管道有限，蔚來在2025年前景不佳。蔚來預計將在2025年推出一款新車型。霍婷婷預計蔚來將在與競爭對手的車型發佈競爭中處於相對被動的位置。
Nio's compact Firefly SUV is expected to be launched in the first quarter, but Goldman anticipates limited volume of around 9,000 units in 2025. Moreover, the analyst expects the EV maker to have a tough time meeting margin targets as competition and scale act as headwinds.
蔚來的緊湊型Firefly SUV預計將在第一季度推出，但高盛預計2025年的銷量僅爲大約9000輛。此外，分析師預計這家電動車製造商在達到利潤目標方面將面臨困難，因爲競爭和規模將成爲阻力。
The analyst expects Nio to become operating cash flow positive in 2025 and free cash flow positive in 2029, versus prior estimates of 2026 and 2027, respectively.
分析師預計蔚將在2025年實現經營現金流正向，並將在2029年實現自由現金流正向，而之前的預測分別爲2026年和2027年。
Hou cut profit estimates by 2% to 13% on lower sales volumes and and lowered the discounted free cash flow target by around 20%, arriving at a new price target of $3.90, suggesting approximately 18% downside potential.
霍婷婷將利潤預測下調2%至13%，原因是銷售量的減少，並將貼現自由現金流目標下調約20%，因此新的價格目標爲3.90美元，暗示大約18%的下行潛力。
"We believe consensus hasn't sufficiently factored in the continued competition into the next few years, and the higher operating expenses associated with sales network expansion, which may not effectively translate into improving sales volume and efficiency, in our view," the Goldman analyst said.
高盛的分析師表示：「我們認爲，市場共識尚未充分考慮未來幾年持續的競爭，以及與銷售網絡擴展相關的更高營業費用，而這些可能並未有效轉化爲改善的銷售量和效率。」
NIO Price Action: Nio shares were down 3% at $4.69 at the time of publication Monday, according to Benzinga Pro.
NIO股價動態：據Benzinga Pro，週一發佈時，蔚來股票下跌3%，報4.69美元。
Photo: courtesy of Nio.
照片：由蔚來提供。
譯文內容由第三人軟體翻譯。
