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Fly News Breaks for December 31, 2019
NIO
Dec 31, 2019 | 06:38 EDT
Credit Suisse analyst Bin Wang keeps his Outperform rating and $12.60 price target on Nio Inc after the company generated its smallest quarterly loss in 2 year during Q3 as reported yesterday. The analyst notes that the small volume scale has kept gross margins for vehicle operation negative, but he expects the company's December deliveries to mark a new monthly high for the year at over 8K. Wang is also positive on Nio's plans to implement cost control measures across the company to boost its operational efficiency with a smaller headcount.
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