Quick Read
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NIO (NIO) reported Q1 FY26 gross of $3.70B with 83,465 conveyance deliveries up 98.3% twelvemonth implicit year, gross borderline of 19% up from 7.6%, and guidance for Q2 deliveries of 110,000-115,000 units backed by the caller ES9 SUV and ONVO L80.
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NIO’s borderline inflection and triple-digit transportation maturation guidance offset ongoing GAAP losses, with the bull lawsuit hinging connected whether Q2 execution confirms the 110,000-plus conveyance ramp and the ES9 motorboat sustains pricing power.
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Our NIO (NYSE:NIO) telephone comes aft a turbulent period for the Chinese astute EV maker, with shares down 10.4% implicit the past week and trading astatine $5.60.
The 24/7 Wall St. terms people for NIO is $7.47, implying 33.4% upside implicit the adjacent 12 months. Our proposal is buy, with mean assurance reflecting NIO's improving fundamentals offset by ongoing GAAP losses.
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24/7 Wall St. Price Target Summary
| Current Price | $5.60 |
| 24/7 Wall St. Price Target | $7.47 |
| Upside | 33.4% |
| Recommendation | BUY |
| Confidence Level | 50% |
A Volatile Run Into a Major Product Cycle
NIO has had a chaotic ride. Shares are up 42.13% implicit the past twelvemonth and 9.8% twelvemonth to date, yet the banal is down 12.91% implicit the past period and sits 16% beneath its 52-week precocious of $8.02.
Q1 FY26 results, reported May 21, 2026, showed gross of $3.70 billion, EPS of -$0.03, and deliveries of 83,465 units, up 98.3% twelvemonth implicit year. Vehicle borderline deed 18.8%, the 4th consecutive sequential improvement.
Management guided Q2 deliveries to 110,000 to 115,000 vehicles with gross of $4.75 cardinal to $4.99 billion, supported by the NIO ES9 SUV (deliveries opening May 27, 2026) and the ONVO L80.
Why Bulls See a Breakout Ahead
The bull lawsuit rests connected a existent borderline inflection. Gross borderline expanded to 19% from 7.6% YoY, R&D fell 40.7% YoY, and SG&A dropped 20.5% YoY. NIO already printed its archetypal GAAP nett successful Q4 2025 astatine $0.04 EPS, with quarterly nett income of $40.4 million.
The All-New ES8 ranked archetypal successful China's ample SUV conception for 5 consecutive months, and the multi-brand strategy is scaling. If Q2 deliveries onshore astatine the precocious extremity and ES9 ramps quickly, the bull-case script points to $8.34, oregon 48.84% upside.
What Could Go Wrong
NIO inactive operates astatine a GAAP loss, posting a $48.1 cardinal nett nonaccomplishment successful Q1 and a $2.14 cardinal full-year 2025 loss. Prior filings carried going interest language, and existent liabilities exceeded existent assets astatine year-end. April 2026 deliveries of 29,356 vehicles trailed the Q1 monthly pace, raising execution risk.

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