Goldman Sachs upgrades NIO to Buy, sees 46% upside on strong EV growth outlook
Goldman Sachs upgraded NIO to Buy and raised its price target to $7 , citing stronger deliveries, improving margins and a potential return to profitability and free cash flow in 2026 NIO ES9 Goldman Sachs has turned bullish on NIO, upgrading the Chinese electric-vehicle maker to “Buy” from “Neutral” and lifting its price target to $7 from $6.60, a move that points to roughly 46% upside from last Friday’s close. In a research note, Goldman analyst Tina Hou said NIO is positioned to be one of the fastest-growing new energy vehicle makers in the bank’s coverage, supported by a stronger product cycle, improving margins and a potential turnaround in profitability and free cash flow in 2026. The bank forecasts NIO’s 2026 deliveries to rise 43% year on year , while revenue is expected to increase 60% . It also projects a swing to non-GAAP net profit of RMB 1.6 billion ($235.98 million) in 2026, compared with a non-GAAP net loss of RMB 12.4 billion ($1.83 billion) in 2025. Free ca...