Goldman Sachs upgrades NIO to Buy as Q2 results show margin gains
Goldman Sachs upgraded NIO from neutral to buy and set a $7.00 price objective after the company reported strong Q2 performance, including 69.1% year-over-year revenue growth, higher deliveries, improved vehicle margins to 18.4%, and positive operating cash flow. NIO also reported narrower losses and expects monthly deliveries above 40,000 in Q4, despite some analysts cutting targets.