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<Research>JPM: NIO's 4Q25 Results Mostly In Line; This Yr's Guidance Surprises
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NIO-SW (09866.HK)'s 4Q25 results were mostly in line with expectations, with no major surprises, as the company had already announced preliminary operating profit in February, which exceeded expectations, JPMorgan said in its research report. Despite facing unfavorable industry factors such as weak demand and rising costs in 1Q26, NIO-SW's management guidance for 2026 sales (up 40-50%, while JPMorgan estimates around 30%) and full-year non-GAAP earnings remain a surprise to both the broker's and the market's expectations. JPMorgan has kept an Overweight rating on NIO (NIO.US) with a target price of USD7. AAStocks Financial News |
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