Nio Stock: Goldman Sachs Raises Price Target Ahead of Earnings November 25

TLDR

• Nio delivered 5,912 Firefly vehicles in October, representing 14% of monthly total, with overall deliveries up 92.6% year-over-year
• The company rolled out its first right-hand-drive vehicles for export to Singapore this week, with Thailand and Great Britain markets planned for 2026
• Nio expects Q3 earnings before market open on November 25, with analysts forecasting a loss of $0.22 per share versus $0.30 loss last year
• Goldman Sachs raised price target from $4.30 to $7.00 while maintaining neutral rating, citing improved design and performance of newer models
• Options traders expect a 12.7% move in either direction following the Q3 earnings announcement

Nio is making moves beyond China’s borders as the EV maker rolls out its first right-hand-drive vehicles. The company shipped its initial batch to Singapore this week and plans to enter Thailand and Great Britain in 2026.

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The expansion comes as Nio’s newer sub-brands drive delivery numbers higher. October deliveries jumped 92.6% compared to the prior year. Year-to-date deliveries are up nearly 42%.

The company’s Firefly brand sits at the center of this international push. Firefly was designed with global markets in mind, targeting the compact car segment that accounts for roughly 17% of worldwide annual sales. Europe represents about a third of that compact car market.

Nio delivered 5,912 Firefly vehicles in October. That’s only 14% of the automaker’s monthly total, suggesting room for growth.

Earnings on the Horizon

The company reports Q3 earnings before market open on November 25. Wall Street expects a loss of $0.22 per share versus a $0.30 loss in the same quarter last year. Revenue forecasts sit at $3.12 billion compared to $2.6 billion in the year-ago quarter.

Options traders are pricing in a 12.7% move in either direction following the earnings release. The stock is up 28% year-to-date, trading at $5.58.

Goldman Sachs analyst Tina Hou raised her price target to $7.00 from $4.30 while keeping a neutral rating. She pointed to better design and performance in newer models like the L90 and ES8.

Hou increased her 2026-2030 sales forecast by 6%-11%. She now expects the company to reach break-even by 2028, one year earlier than her previous estimate. Her gross margin projections increased by 2%-3% based on improved production scale.

Navigating Price Wars and Tariffs

The right-hand-drive expansion tells a story about pressures back home. China’s EV market is locked in a brutal price war that’s eating into margins. Chinese automakers exported barely 1 million vehicles at the start of the decade. That figure is expected to hit 7.5 million this year.

Exporting vehicles helps Nio use production capacity at a time when the industry faces overcapacity. The company had to raise European prices due to tariffs, but the vehicles remain competitive.

Europe considered consumer preferences when Nio designed Firefly’s digital interface. The move into right-hand-drive markets also inches the company closer to potentially entering the U.S. market, though steep tariffs currently protect domestic automakers.

Ford CEO Jim Farley called the Chinese auto threat “existential” for Detroit manufacturers. Ford, General Motors, and Stellantis are watching the Chinese EV makers closely.

Nio plans to launch two more models in 2026: the L80 and ES9, plus an updated ES7. These launches should help maintain sales momentum if they perform like recent releases.

The company carries a Moderate Buy consensus rating from analysts based on six Buy ratings, six Hold ratings, and one Sell rating. The average price target of $6.90 suggests 23.66% upside from current levels.

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