Nio price target lowered to $7.90 from $10.20 at HSBC

HSBC analyst Yuqian Ding lowered the firm’s price target on Nio to $7.90 from $10.20 and keeps a Buy rating on the shares. The company reported “weak” Q4 results, dragged by a muted product cycle and volume, but the product cycle is likely to pick up momentum from Q2 onwards on mass market brand ALPS’ new model launch, the analyst tells investors in a research note.