Freedom Capital upgraded Nio (NIO) to Buy from Hold with a price target of $7, up from $6.50. The Chinese EV maker has shown accelerating delivery growth in recent quarters and intends to build on that momentum with the launch of two sub-brands, notes the analyst, who believes that rising shipments next year will drive the company’s revenue to “new record levels.”
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NIO:
- BYD Recalls 88,981 Plug‑In Hybrids in China Over Battery Safety Issues
- Nio price target raised to $4 from $3 at Barclays
- Morning News Wrap-Up: Wednesday’s Biggest Stock Market Stories!
- Midday Fly By: Dell, HP move in opposite directions after earnings
- Autodesk upgraded, Nio downgraded: Wall Street’s top analyst calls