On the other hand, BYD (equal weight) will likely face another round of downward revisions from analysts due to market saturation in China, Hsiao wrote.
"Although the macroeconomic and operational environment is certainly challenging, we think the negative forces influencing the trio of EV stocks are more or less [already reflected] in stock prices," Hsiao told clients.
Li Auto has booked several profitable quarters in a row, demonstrating solid execution of model launches and effective cost management, Hsiao told clients.
Morgan Stanley has boosted total sales volume for the company by 12% in 2024 and 8% in 2025, reflecting stronger demand for new models.
Morgan Stanley has a price target of $10 for Nio's ADRs, equal to roughly 72% upside from the previous close of $5.80.
Persons:
Morgan Stanley, Tim Hsiao, Hsiao, Li Auto, Li, Xpeng, Xpeng's, Nio's ADRs
Organizations:
Li
Locations:
China, Europe, Latin America, Southeast Asia