NIO Stock Today, November 28, 2025: Price Target Hikes, Tough Demand Warnings and What It All Means for Investors

NIO Inc. (NYSE: NIO) is trading slightly higher today, November 28, 2025, as investors digest a swirl of fresh analyst calls, management warnings about demand, and lingering reactions to this week’s third‑quarter earnings.

As of midday U.S. trading, NIO’s American depositary shares are hovering around $5.50, up modestly from yesterday’s close of $5.46. Intraday, the stock has traded roughly between $5.43 and $5.63, extending the heavy volume seen since its Q3 report earlier in the week. ^[1]

In Hong Kong, NIO’s 9866.HK shares finished the session at HK$43.52, up about 0.7% on the day. ^[2]

Below is a breakdown of the key NIO stock news specifically dated November 28, 2025, and how it fits into the bigger picture after Q3 earnings.

NIO Stock Price Snapshot on November 28, 2025

U.S. ADR (NYSE: NIO): Around $5.50 intraday, modestly higher versus Thursday’s close of $5.46, with trading volumes remaining elevated following earnings. ^[3]
52‑week range: Approximately $3.02 – $8.02, meaning the stock is trading closer to the middle of its one‑year band. ^[4]
Hong Kong listing (9866.HK): HK$43.52, up 0.69% with more than 6.4 million shares changing hands. ^[5]

After a sharp post‑earnings sell‑off earlier in the week, today’s session looks more like a stabilization day: modest gains, no dramatic moves, and a market still trying to price in slowing guidance against improving fundamentals.

Fresh Today: Barclays Raises NIO Price Target but Stays Bearish

One of the most important new headlines on November 28, 2025 is a rating update from Barclays:

Barclays maintains an “Underweight” rating on NIO.
The bank raises its price target from $3.00 to $4.00. ^[6]
Based on today’s trading around $5.50, that target implies roughly 25–30% downside from current levels.

A separate write‑up summarizing the call underscores that, even after the increase, Barclays still views NIO as overvalued relative to its risks, citing ongoing profitability challenges and a softer outlook for volumes following management’s Q4 guidance. ^[7]

The key takeaway for traders:

Positive twist: Price target raised, acknowledging improved fundamentals and a lower risk of extreme downside.
Negative anchor: The rating remains bearish, signaling that at least one major bank sees the recent share price recovery as overdone.

This mixed message helps explain why NIO is not exploding higher today despite broadly constructive delivery and margin trends.

“November Will Still Be Tough”: New CEO Warning Hits the Tape

Also on November 28, 2025, NIO’s founder and CEO William Li gave a notably cautious outlook in comments to local media in China:

Li said “November will still be tough” and December remains “uncertain” for the company and the wider EV industry.
He noted that an industry‑wide demand slump in October, triggered by subsidy and tax incentive reductions, had caught many manufacturers off guard.
NIO’s position is “relatively better” only because it still has a backlog of orders for key models like the Onvo L90 and NIO ES8. ^[8]

Li also confirmed that NIO will report its November delivery figures on Monday, December 1, a data point that could be a major short‑term catalyst for the stock. ^[9]

At the same time, a new sector‑wide note today highlights that Chinese EV makers, including NIO and Li Auto, are warning of potential delivery slowdowns as China scales back purchase‑tax incentives and other support measures. ^[10]

Put together, today’s messaging paints a picture of:

Near‑term pressure on demand across the Chinese EV market.
NIO still working through a decent backlog, but no guarantee of strong order momentum into early 2026.
A high‑stakes delivery report coming in just a few days.

Q3 2025 Earnings: Why They Still Matter for NIO Stock Today

Although NIO’s third‑quarter 2025 results were released earlier this week, they continue to drive today’s narrative and analyst actions.

From the company’s official filing and subsequent coverage:

Revenue: RMB 21.79 billion (roughly US$3.06 billion), up about 16.7–17% year‑on‑year, a new quarterly record for the company. ^[11]
Vehicle deliveries:87,071 EVs in Q3, up 40.8% year‑on‑year. ^[12]
Gross profit: RMB 3.02 billion, up more than 50% versus the prior year. ^[13]
Net loss: Narrowed to around RMB 3.66 billion, compared with RMB 5.14 billion a year ago. ^[14]
Vehicle margin: Around 14.7%, a clear improvement from last year’s levels. ^[15]

Management also issued Q4 2025 guidance that has become the flashpoint for recent volatility:

Q4 deliveries:120,000–125,000 vehicles, up significantly from 73,000 in Q4 2024 but below earlier internal targets of about 150,000 units and below what many analysts had hoped for. ^[16]
Q4 revenue guidance: Roughly RMB 32.8–34.0 billion (about US$4.62–4.81 billion), slightly under more optimistic Street estimates. ^[17]

The earnings themselves showed NIO moving in the right direction on margin and cash flow, but the slower‑than‑expected Q4 trajectory has overshadowed that improvement and is central to today’s cautious analyst calls.

Analyst Debate: Between Recovery Story and Guidance Shock

Macquarie: From Bullish to Cautious

In the days leading up to today’s trading session, Macquarie delivered a significant downgrade that still resonates:

Rating cut from “Outperform” to “Neutral”.
Price target reduced to $5.30 from $6.70 for the U.S. shares. ^[18]
The new target implies a small downside versus recent prices, citing:
- Weak Q4 volume guidance.
- Slower demand as government subsidies and tax incentives are phased out.
- Policy risks and pressure on NIO’s mass‑market Onvo sub‑brand. ^[19]

Nomura and Others: Guidance Miss, but Not a Collapse

A Reuters‑carried note via Nomura characterized NIO’s Q4 guidance as a “miss”, even as the firm maintained a neutral stance, pointing to strong margin improvement but a softer top‑line outlook than expected. ^[20]

Separate commentary from Morningstar and other outlets echoed a similar theme:

Margins and losses are improving, and NIO still targets breakeven on an adjusted basis around Q4.
The path to that goal now looks bumpier, with competitive pricing and lower‑than‑hoped volume growth weighing on sentiment. ^[21]

Wider Street View

Across Wall Street, NIO currently sits in the “Hold” bucket on average, with:

Around 31 analysts covering the stock.
A median price target near $6.25, with estimates ranging from $3.00 to $15.00.
The median target implies moderate upside from current levels, but the range highlights how divided the Street is on NIO’s long‑term trajectory. ^[22]

Today’s Barclays move fits into this mosaic: analysts acknowledge the operational progress but are increasingly wary of demand, policy and competition risks.

Sector Context: Chinese EV Headwinds and a Huge Market

Today’s NIO headlines don’t exist in a vacuum. The broader Chinese auto and EV market is going through its own adjustment:

A fresh industry report out of China projects 2025 auto sales could exceed 34 million units, underscoring how massive the addressable market remains for players like NIO. ^[23]
At the same time, sector coverage today emphasizes that multiple EV makers, including NIO and Li Auto, are warning about a slowdown in deliveries as tax incentives and subsidies fade, pressuring demand and margins. ^[24]

For NIO specifically, this means:

The company is no longer just fighting Tesla and BYD – it is also fighting a tougher policy backdrop at home.
Management must balance cost controls and margin improvement with continued investment in software, autonomous driving and new platforms, all while trying to keep its breakeven goal for late 2025 / early 2026 on track. ^[25]

Today’s Bull vs. Bear Case for NIO Stock

Putting November 28, 2025 together in one place, here is how the day’s developments shape the investment narrative.

The Bullish Elements

Record Q3 revenue and strong delivery growth show that NIO’s product lineup is gaining traction again after a rocky period in 2023–2024. ^[26]
Margins are improving and net losses are narrowing, with vehicle margins approaching mid‑teens. ^[27]
Multiple reports today highlight strong EV delivery growth as a driver of recent share price gains, with NIO included among key EV names to watch. ^[28]
Some analysts, including earlier upgrades from global banks this year, still see significant long‑term upside if NIO executes on its mass‑market strategy and international expansion. ^[29]

The Bearish (or Cautious) Elements

Today’s Barclays call keeps NIO rated “Underweight” even after raising the target, signaling lingering skepticism about valuation and profitability. ^[30]
Macquarie’s downgrade and target cut frame NIO’s Q4 guidance and 2026 demand outlook as weaker than previously thought. ^[31]
CEO William Li’s own words today — “November will still be tough” and “December remains uncertain” — reinforce that near‑term conditions are challenging. ^[32]
Industry reports warn that subsidy and tax incentive cuts are beginning to bite, potentially compressing demand just as NIO pushes harder into the mass market. ^[33]

In short, today’s news flow is not about a new shock or a sudden collapse; it’s about confirmation that NIO’s recovery story is real but fragile.

What to Watch Next After Today’s Session

For anyone tracking NIO stock after November 28, 2025, the key upcoming catalysts are:

November delivery data (December 1):
This will be the first hard test of Li’s warning about a “tough” month and of the guidance that already disappointed parts of the market. ^[34]
Short‑term stock behavior around $5–6:
With price targets now clustered in the $4–7 range and the stock sitting around $5.5, how NIO behaves around this zone could signal whether traders see the guidance shock as fully priced in or not. ^[35]
Further analyst revisions:
Today’s Barclays move may not be the last word. Additional upgrades, downgrades or target changes could follow as analysts update models for slowing incentives and the Q4 outlook. ^[36]
Policy signals from Beijing:
Any hints of fresh support or, conversely, more aggressive subsidy rollbacks could quickly change sentiment toward NIO and its domestic peers. ^[37]

Bottom Line: NIO on November 28, 2025

On 28.11.2025, NIO stock is doing something rather unspectacular but important: holding its ground amid mixed but crucial news.

The earnings story is better than it was a year ago.
The guidance story is weaker than bulls hoped.
The analyst story is sharply divided, with fresh bearish noise from Barclays and caution from Macquarie, even as other views remain more constructive.
The CEO story today is one of realism about a tough near‑term demand environment.

For readers, traders, and long‑term investors, today’s developments don’t deliver a simple “buy” or “sell.” Instead, they sharpen the central question around NIO:

Can a company with clearly improving fundamentals navigate a slowing, less‑subsidized EV market fast enough to justify its valuation — and eventually earn the profit it keeps promising?

That tension is exactly what the market is wrestling with in NIO’s share price on November 28, 2025.

This article is for informational and news purposes only and does not constitute financial or investment advice. Always do your own research or consult a licensed financial advisor before making investment decisions.

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