09:50 AM EDT, 10/27/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We revise our target to USD6.50 from USD7.00, factoring in an enlarged share base due to new equity offering. Our target implies a 2026 P/S of 1.0x (vs. the five-year P/S average of 4.4x), based on our projected slower revenue growth (vs. a five-year CAGR through 2024), execution risks, and NIO's weak financial position. As highlighted in our previous report, NIO's ambitious expansion plans (e.g., global build-out of sales, service, and power networks; manufacturing capacity expansion; and ongoing R&D) present significant financial risks. These capital-intensive initiatives will strain an already weak balance sheet (with negative shareholder equity as of end-Q2 2025), creating the potential need for additional capital raises through equity or debt financing. This materialized on September 10, 2025, when NIO announced a USD1B equity offering, pricing each Class A ordinary share at HKD43.36 and each ADS at USD5.57. We also revise our 2025 LPADS views to -CNY7.75 from -CNY8.33 and 2026 to -CNY6.00 from -CNY6.87.