NIO's Hong Kong shares jumps after Citi lifts target price

NIO

13/04/2026 05:54

** Hong Kong shares of NIO 9866.HK, which manufactures smart electric vehicles, jump 7.6% to HK$52.45, on course for biggest one-day pct rise since April 1

** Stock top pct gainer in Hang Seng Tech Index .HSTECH, which is down 1%

** Citi reiterates "buy" rating on the stock and raises target price of U.S. shares to $7.6 from $6.2, and Hong Kong stock to HK$58.6 from HK$47.3, as it hikes sales forecast to reflect NIO's robust order intake of new products

** "Our positive view on NIO is also supported by our forecast that its battery swapping business’s should break even from 2027E," Citi says, adding it expects Q1 margin beat and 2QE/3Q26E volume recovery and cash flow improvement

** YTD, Hong Kong stock up 27%, U.S.-listed shares advance 27.5%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))