Morgan Stanley: Maintains "overweight" rating on NIO-SW (09866) with a target price of 47.4 Hong Kong dollars.

, Morgan Stanley issued a research report stating that it estimates that the future stock price of NIO-SW (09866) will rise in the next 15 days, with a probability of 70% to 80%. The bank has a target price of 47.4 Hong Kong dollars for the stock and a rating of "hold." The bank believes that the starting price of NIO's ONVOL60 (including the standard 60kWh battery) is 206,900 yuan, which is 13,000 yuan lower than the pre-sale price. The BaaS model (excluding the 60kWh battery) is even cheaper at 149,900 yuan, which is 57,000 yuan lower than expected, surprising the market. In addition to the early bird cash discount of up to 4,000 yuan and a local government subsidy of 10,000 yuan for trading in old vehicles for new ones, this indicates higher order conversion and sales expectations.