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<Research>Macquarie Rates NIO-SW as Neutral w/ Concerns Over Further Financing Needs
Recommend 31 Positive 65 Negative 37 |
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NIO-SW (09866.HK) (NIO.US) announced a share placement, Macquarie wrote in its report. While the injection of new capital is believed to help NIO-SW tide over its financial difficulties in the short term, Macquarie is still worried about the group's need for further external financing in the future. In the broker's estimate, the group's free cash flow for this year will remain at a negative level. Macquarie set its target price for NIO-SW at $36, with a Neutral rating. The broker also noted that for Chinese investors, the market will be concerned about whether other H-share EV companies will follow suit after BYD COMPANY (01211.HK), XIAOMI-W (01810.HK) and NIO-SW announced their share placements. AAStocks Financial News |
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