NIO (NYSE:NIO) reported slightly better than expected earnings results for the third fiscal quarter on Wednesday that showed record quarterly deliveries and an improving vehicle margin trend. The EV maker also announced that it is seeing strong
Why NIO Could Double Its Valuation
Summary
- NIO reported better than expected Q3 earnings, but missed on revenue on Wednesday.
- NIO achieved record deliveries in the third-quarter and improved vehicle margins to 13.1%.
- The EV maker is seeing solid momentum for its ONVO-branded EVs and is guiding for a significant ramp in deliveries until March 2025.
- NIO now targets break-even by FY 2026.
- Shares are unreasonably cheap given the significant improvements in the EV maker's business and positive break-even outlook.
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