Goldman Sachs Cuts Nio Stock Price Target on Weak Guidance

Nio Inc.'s stock price target was cut by Goldman Sachs to $6.10 from $7.00, while maintaining a Buy rating. The firm attributed weaker third-quarter guidance to ongoing weak domestic market demand and relatively lower recognition of Nio's Onvo brand.

The company reported second-quarter results with adjusted earnings per share of RMB0.01, surpassing analyst expectations of -RMB0.32. However, revenue of RMB32.14 billion ($4.74 billion) fell short of the consensus estimate of RMB33.4 billion.

Goldman Sachs lowered its 2026-2028 non-GAAP net profit estimates to a range of 0.6 billion yuan to 3.6 billion yuan from 1.6 billion yuan to 5.3 billion yuan.