Nio Inc. (NYSE: NIO) shares are trading higher in premarket action today, extending a recent rebound from June lows. The move comes after Goldman Sachs analyst Tina Hou raised her price target on the stock to $7, implying roughly 42% upside from current levels. The broader Chinese electric vehicle sector also received a tailwind from data showing the country's EV exports crossed the 1 million milestone in June, up 71.2% year-over-year.
Goldman Sachs Upgrade and Analyst Consensus
Goldman Sachs' Tina Hou now sees Nio reaching $7 per share, citing the company's accelerating delivery growth and expanding product lineup. The average analyst price target stands at $6.70, according to data compiled by Yahoo Finance. Nio shares had pulled back sharply from a May high of $6.98 to a low of $4.66 in June before stabilizing. The stock currently trades around $5.13 in premarket activity.
Delivery Growth Outpaces Rivals
Nio delivered 107,658 vehicles in the second quarter, a 49.4% increase year-over-year. June deliveries alone rose 62.9% to 40,597 units, slightly below expectations as customers awaited the new ES9 and five-seat ES8 models. By comparison, BYD's deliveries fell 3% in the same period, while Li Auto's dropped 13.7%. Polestar posted a 38% gain.
The company operates three brands: Nio, ONVO, and Firefly. In June, the premium Nio brand sold 21,908 vehicles, while ONVO and Firefly contributed 11,743 and 6,946 units, respectively. The recently launched ES9, starting at approximately $73,000 (or $57,000 with a battery-as-a-service subscription), delivered 8,595 units in its first full month.
Revenue Growth Expected to Accelerate
Analysts estimate Nio's second-quarter revenue rose 76% year-over-year to CNY 33.50 billion. Current-quarter revenue is projected at CNY 36.33 billion, up 67%. For the full year, revenue is expected to climb 56% to CNY 136.3 billion, followed by CNY 156.75 billion in 2027. In contrast, XPeng's annual revenue is forecast to grow only 20% to CNY 92.34 billion.
China EV Exports Surge
China's EV exports surpassed 1 million units in June, jumping 71.2% from a year earlier. The country is on track to export 10 million vehicles this year, up from 7.1 million in 2025. This trend benefits Nio as it expands its international presence.
Technical Indicators Suggest Further Upside
From a technical perspective, Nio shares have formed a descending channel pattern and recently broke above its upper boundary. The Percentage Price Oscillator (PPO) has generated a bullish crossover, and the Relative Strength Index (RSI) has moved above its moving average, signaling potential further gains. A move toward $6 is possible, though much will depend on the upcoming earnings report.
For context on broader market movements, see our coverage of Micron, AMD, Intel Leading Premarket Chip Rebound and IBM Shares Surge 5% Premarket After JPMorgan Upgrade.
This article is for informational purposes only and does not constitute financial advice.
