The firm hiked the price target on Nio to $6.10 from $5.30 and upgraded the stock to ‘Outperform.’
- Macquarie raised its FY26 volume estimate for Nio by 7% on stronger ES8 and Firefly demand.
- The firm thinks volume growth near 40% is “achievable,” which implies that Nio will be able to gain market share in a broadly weak market for China EVs.
- The firm cut its price targets on Nio rivals Li Auto and XPeng.
Shares of Chinese EV maker Nio (NIO) closed up 2% on Thursday after Macquarie upgraded the stock to ‘Outperform’ from ‘Neutral’ while also raising its price target.
The firm hiked the price target on Nio to $6.10 from $5.30. The new price target represents a potential upside of about 31% from the stock’s closing price on Thursday.
What’s Behind The Optimism?
Macquarie raised its FY26 volume estimate for Nio by 7% on stronger ES8 and Firefly demand. While the firm still expects to see margin compression and a larger net loss in FY26, the firm thinks volume growth near 40% is “achievable.” This implies that Nio will be able to gain market share in a broadly weak market for Chinese EVs.
Meanwhile, Macquarie lowered its price targets on Nio’s rivals Li Auto (LI) and XPeng (XPEV). The firm lowered its price target on Li Auto to $15 from $17 and cut the price target on XPeng to $26 from $32.
For Li, Macquarie said that big cash discounts on extended range electric vehicles could slow topline momentum even as input costs rise and squeeze margins. It also noted that the company’s upcoming EV launches do not seem like major volume catalysts.
With XPeng, Macquarie thinks 2026 would be a transition year for the company as it boosts its portfolio with four new models in a slowing China EV market.
Nio Growth Picture
Earlier this month, Nio CEO William Li laid out an aggressive outlook for the company’s next phase of growth, including a targeted annual sales increase of 40%–50% and expressed confidence around achieving profitability in the fourth quarter of 2026.
The company delivered 326,028 vehicles in 2025, up 47% year-on-year, thanks to strong demand for its new ES8 and Onvo L90 vehicles.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around NIO stayed within the ‘bearish’ territory over the past 24 hours, while message volume fell from ‘normal’ to ‘low’ levels.
NIO stock has gained 13% over the past 12 months.
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