Insights

Deutsche Bank analyst Edison Yu's team cut their price target on Nio by $5 to $45, but said Nio is on track to return to its product super cycle this year.

Xpeng's management is repositioning its vehicle lineup to surgically go after the premium market, according to Edison Yu's team.

Chinese EV makers are expected to see a material improvement in deliveries in June as work and production resume in Shanghai, according to Edison Yu's team.

Xpeng delivered mixed underlying first-quarter results with guidance reflecting lingering challenges from the Covid lockdowns.

Considering Nio's average daily trading volume in Hong Kong for the past month, the inflow of funds from ETFs will last about 10.3 days, according to CICC.

As Nio's existing model matrix continues to improve and the sub-brand allows further sales growth, Nio's annual sales are expected to reach 1-million-unit level by 2025, the team said.

Deutsche Bank analyst Edison Yu's team lowered their price target on Xpeng by $2 to $53, taking into account slightly lower expected sales.

BofA raised its price target on Nio from $25 to $26, believing negative factors seen are priced in.

Li Auto reported solid Q1 results while Q2 guidance was somewhat soft given uncertainty around the Covid recovery cadence.

BYD has bucked the trend of record high sales under heavy pressure, continuing to validate the advantage of having core components supplied by itself, analysts said.