Niu Technologies announced an increase in the retail price for certain models in its N, M and U series sold in China. The increase will range from RMB 100 to RMB 500, or approximately 1% to 5% per scooter. The price increase will be effective on April 11.
Niu Technologies initiated with a Buy at Needham. Needham analyst Brad Erickson started Niu Technologies with a Buy rating and $12 price target, stating that his check indicate that the company has establish a dominant foothold with younger customers in China. He also believes that the coming demand for Niu e-scooters is not reflected in the share price, Erickson tells investors.
Niu Technologies initiated with a Buy at Citi. Citi analyst Beatrice Lam started Niu Technologies with a Buy rating and $17.60 price target. The company's smart electric scooters powered by lithium batteries, coupled with its domestic and overseas presence as a lifestyle brand, gives it ''a strong advantage over its peers," Lam tells investors in a research note. The analyst sees the company posting 52% annual revenue growth between 2019 and 2022.