Macquarie Upgrades NIO (NIO) to Outperform on ONVO L90 SUV Launch

NIO Inc. (NYSE:NIO) is one of the best NYSE penny stocks to invest in now. On August 1, Macquarie upgraded NIO’s rating from “Neutral” to “Outperform” and raised its 12-month price target on the company’s U.S.-listed shares from $3.90 to $5.50. The decision came right after NIO launched the new ONVO L90 SUV, which Macquarie analysts described as a “potential blockbuster” and possibly NIO’s “most competitive offering” to date.

The L90 is a six-seat SUV priced at RMB 265,800 ($36,857). This pricing, the analysts noted, undercut rivals like Li Auto’s L8 by 17% but offers similar features, and comes close to the price of Tesla’s five-seat Model Y. The analysts highlighted the family-focused positioning of the L90, emphasizing space and usability over advanced tech. They see this as a key way for NIO to address its “core problem of insufficient volume” in past sales.

Macquarie projects monthly sales for the L90 could reach 8,000–12,000 units and describes the vehicle as a possible “category killer” in its segment. As a result, the analysts raised their FY25 and FY26 NIO vehicle delivery forecasts by 7% and 10% respectively (to 347,000 and 500,000 vehicles).

NIO Inc. (NYSE:NIO) is a Chinese electric vehicle manufacturer that designs, builds, and sells premium smart EVs, including the ET5, ET7, ES6, and EC7. It develops core technologies in-house while leveraging both self-owned and partner manufacturing capabilities. The company operates an expansive NIO Power network, comprising battery-swapping stations, fast chargers, service centers, and NIO House/NIO Space retail sites, to support delivery growth and energy subscription services.

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Disclosure: None. This article is originally published at Insider Monkey.