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Nio’s stock bounces after J P. Morgan analyst raises target, but expects ‘pullback’ near term

A hold rating indicates that analysts believe investors should maintain any existing positions they have in NIO, but not buy additional shares or sell existing shares. Citigroup reported a profit of $3.55 billion, up a modest 2% from a year earlier, or $1.63 a share. The bank is currently going through a restructuring and winding down some less profitable parts of the financial conglomerate’s business, which impacted the bank’s profits this quarter. JPMorgan reported a profit of $13.15 billion, up from $9.74 billion in the same period a year earlier. On a per-share basis, profit rose to $4.33 a share from $3.12 a share a year earlier.

  • Benzinga tracks 120 analyst firms so investors can understand if analysts expect a stock to trade higher or lower.
  • The analyst sees these reducing production rates to perhaps 7,500 units per month in Q2, but easing up thereafter.
  • On average, they predict the company’s stock price to reach $12.68 in the next twelve months.
  • Israel is striking Gaza hard and has ordered a “complete siege.” Sweeping retaliation is expected in the coming days and weeks.

“The report is without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations regarding information relating to the Company. The Company’s board of directors, including the audit committee, is reviewing the allegations and considering the appropriate course of action to protect the interests of all shareholders. China is the world’s largest market for ICE (internal combustion engine) cars as well as electric cars. During the call, Barnum emphasized the importance of managing expectations regarding optimization once new rules are finalized. He also mentioned the possibility of exiting certain businesses. The CFO highlighted the profitability of the consumer franchise, citing factors such as deposit margin and a holistic value proposition.

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“We truly are a bank for all seasons,” the bank’s chief executive, Jane Fraser, said in a statement, adding that each of the bank’s five core business lines recorded revenue growth compared with a year earlier. “The war in Ukraine compounded by last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships,” Dimon said. how to find overbought stocks “This may be the most dangerous time the world has seen in decades. While we hope for the best, we prepare the firm for a broad range of outcomes.” In Q4, NIO reported $1.02 billion in quarterly sales, inching past analysts’ predicted $1.01 billion. While ratings are subjective and will change, the latest NIO (NIO) rating was a maintained with a price target of $17.00 to $16.00.

While the market for mergers and acquisitions (M&A) and initial public offerings (IPOs) is showing signs of a recovery, lingering economic uncertainty continues to be a drag on dealmaking activity. The Federal Reserve has held interest rates steady, but has indicated it could keep borrowing costs higher for a prolonged period. Upgrade to MarketBeat All Access to add more stocks to your watchlist. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

However, its focus on improving efficiency, higher interest income, and reduction in outstanding share count could bolster its bottom line. Despite the current valuation, MS stock holds a Moderate Buy consensus rating with a 23.41% upside potential. Benzinga tracks 120 analyst firms so investors can understand if analysts expect a stock to trade higher or lower. Price Targets are an analyst’s how to make your first app in java best guess at where the stock will trade in 12 months. Niket Nishant reports on breaking news and the quarterly earnings of Wall Street’s largest banks, card companies, financial technology upstarts and asset managers. He also covers the biggest IPOs on U.S. exchanges, and late-stage venture capital funding alongside news and regulatory developments in the cryptocurrency industry.

The last rating for NIO was filed on September 6, 2023 so you should expect the next rating to be made available sometime around September 6, 2024. Oppenheimer analyst Chris Kotowski on Monday reiterated an outperform rating on JPMorgan Chase & Co. and increased his price target on the stock to $233 from $215 after the bank’s stronger-than-expected third-quarter profit update. Excluding one-time costs, the bank reported a profit of $4.50 per share, above analysts’ average estimate of $3.96 per share, according to LSEG IBES data. 10 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for NIO in the last year. There are currently 7 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should “hold” NIO shares.

  • Wells Fargo set aside an additional $333 million to guard against potential losses on commercial real estate loans.
  • Morgan Global Liquidity (JPM GL) after its 2018 initial public offering.
  • JPMorgan Chase is prepared for Basel III regulations but warns of potential impacts on the market.
  • Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) fell 1.2% last week and ARK Genomics ETF (ARKG) tumbled 5.7%.
  • NIO’s (NIO) Q4 earnings were disappointing — and (most) investors were disappointed.
  • Although we don’t know the exact number of vehicles that NIO has delivered as of June 28, it is certainly much more than the 100,000 mentioned by Grizzly Research.

Assume 20,000 units produced in Q1, and 22,500 in Q2 — that leaves 48,000 cars that NIO will need to build and ship in the second half of the year in order to hit its year-long production goal. That works out to 8,000 cars per month in Qs 3 and 4, and if NIO can do 7,500 cars a month with supply chain problems, it seems reasonable to assume it can do 8,000 a month without them. After seeing how fast production ramped in Q4, and NIO’s projections for Q1, the analyst feels confident in predicting that deliveries will more than double this year, to 90,500 units or better.

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Along with reporting increasing vehicle deliveries, NIO has also improved its operating performance. It took several measures including headcount reduction to lower its costs. CEO Jamie Dimon expressed caution despite the positive economic outlook, highlighting the impact of fiscal and monetary stimulus on markets and the need to prepare for potential uncertainties. He emphasized the importance of serving clients with better products and services, regardless of market conditions. Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

That was largely driven by higher interest rates, which has allowed JPMorgan to charge customers significantly higher amounts of interest on loans compared to a year ago. Analysts like NIO less than other Auto/Tires/Trucks companies. The consensus rating score for NIO is 2.30 while the average consensus rating score for auto/tires/trucks companies is 2.47. Along with the high rates, he mentioned the Federal Reserve’s efforts to reduce its bond holdings. The process, known as quantitative tightening, “reduces liquidity in the system at a time when market-making capabilities are increasingly limited by regulations,” he said.

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JPMorgan Chase delivered strong profits for the third quarter along with a stern warning Friday from its top executive about the perils the world faces from multiple threats. JPMorgan Chase is prepared for Basel III regulations but warns of potential impacts on the market. The company conducts 100 stress tests per week as part of its risk management strategy. These potential “various types of content” may also carry higher than average profit margins — in Lai’s view, high enough to raise the company’s gross profit margin from 8% in Q to as high as 12% to 13% as soon as Q3 2020. By investing in high quality institutional money market solutions in their overall portfolios, they can achieve diversification, especially important when China’s new regulations are phasing out principle-guaranteed products. “The consumer remains quite resilient,” said Mark Mason, Citi’s chief financial officer.

JP Morgan dismantles Short-seller report, remains positive on NIO

Six weeks ago (May 15) NIO delivered its 200,000th vehicle and ended the month with cumulative deliveries of 204,936 vehicles — after delivering 7,024 units in May 2022. NIO reported positive gross margins in the second quarter of 2020 for the first time ever. The company expects its gross margins to rise to double digits by the end of the year. After the recent rise, NIO’s year to date returns now exceed that of Tesla’s that is up 451% for the year.

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Dimon recently has said that he has been warning clients about the possibility that interest rates may not only stay elevated but also could rise significantly from here. This article was generated with the support of AI and reviewed by an editor. Additionally, Lai argues that NIO is more than just a car company selling cars “direct” to customers. It’s also a “pioneer among Chinese EV peers leading a business model transformation from a conventional carmaker to a combination of smart mobility provider with business monetization opportunity.”

Eli Lilly was Friday’s IBD Stock Of The Day, with CrowdStrike, Arista Networks and PANW stock also selections during the week. Dow Jones futures fell solidly Monday morning, along with S&P 500 futures and Nasdaq futures, while crude oil futures jumped. That followed massive Hamas attacks on Israel and the start of a huge Israeli response. “This may be the most dangerous time the world has seen in decades,” Dimon wrote in the bank’s earnings statement. Sign up for updates on the ways we are using our expertise, data, resources and scale to open new pathways to economic opportunity and drive inclusive growth in communities around the world. Beyond the military conflicts, Dimon cited the burgeoning national debt and “the largest peacetime fiscal deficits ever” that he said are raising the risks that inflation and interest rates remain high.

Earlier today, the EV maker reacted to the report saying it is “without merit and contains numerous errors, unsupported speculations, and misleading conclusions and interpretations”.

NIO’s treasurers in China can quickly manage settlement of capital raised regardless of time zones or business hours. The financial institution also helped NIO’s treasury team enhance its governance, ensuring its liquidity management fulfilled both its own business objectives and US share listing requirements. Otherwise, JPMorgan and other big banks appear to be operating smoothly.

Rivals Citigroup(C.N) and Wells Fargo (WFC.N) also reported third-quarter profit above expectations. The bank released $113 million in net reserves in the third quarter on back of an improved economic outlook. Modest growth over the next few quarters has replaced 21 cloffice ideas how to turn a closet into an office the recessionary outlook forecasted earlier, Barnum said. The results “look really good and it just shows what a great operator they are,” said Eric Kuby, chief investment officer at North Star Investment Management in Chicago, who owns JPMorgan shares.

The Energy Select SPDR ETF (XLE) sold off 5.2% and the Health Care Select Sector SPDR Fund (XLV) rebounded 1% higher, with LLY stock a notable member. Crude oil futures spiked 4% to just above $86 a barrel, after surging more than 5% at one point Sunday night. Israeli Prime Minister Benjamin Netanyahu declared war on Hamas. Israel is striking Gaza hard and has ordered a “complete siege.” Sweeping retaliation is expected in the coming days and weeks. Total revenues in the July-September quarter were $39.87 billion, up from $32.7 billion a year ago.

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