2024-07-09 10:49:46 ET
Summary
- Niu Technologies' Q2 2024 sales numbers show strong growth momentum, with the number of units sold increasing by +21% YoY and +98% QoQ.
- The company's plans to expand in overseas markets by establishing partnerships with key retailers suggest that its international business operations have good growth potential.
- My rating for NIU is revised to a Buy, as I think that the stock deserves to trade at a higher P/E multiple in the mid-teens range.
Elevator Pitch
My investment rating for Niu Technologies ( NIU ) is a Buy.
I wrote about Niu Technologies' near-term financial prospects in my prior June 5, 2023 write-up . This update touches on NIU's Q2 2024 sales numbers and the company's growth in overseas markets. ...
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For further details see:
Niu Technologies: Turning Bullish On Strong Q2 Sales And International Market Expansion (Rating Upgrade)