Nio Stock Drops as Analyst Cites Risks from Slowing Deliveries, Rising Competition

• Nio recently lowered its Q1 delivery estimates due to weaker-than-expected March sales for its new 2024 models • Analyst Jiong Shao sees "significant risks" for Nio meeting 2024 estimates due to limited new product launches planned • Shao anticipates increasing competition in China's EV market from major players like Huawei, BYD, Xiaomi entering the space • Shao downgraded Nio from Equal Weight to Underweight and set a Street-low $4 price target • Despite Shao's bearish call, the Wall Street consensus on Nio remains a Moderate Buy rating