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Nio price target lowered to $3.50 from $4 at Mizuho

Mizuho lowered the firm’s price target on Nio (NIO) to $3.50 from $4 and keeps a Neutral rating on the shares following the earnings report. The firm says Nio’s deliveries are accelerating, but that China battery electric vehicle competition “remains fierce.” The analyst sees the stock as fairly valued.

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