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Chinese electric-vehicle maker NIO (NIO - Free Report) closed up 23% today after a bullish upgrade from JPMorgan analyst Nick Lai. Lai upgraded NIO to overweight from neutral, and raised his price target all the way to $40 from $14.
Lai said that China’s “new energy vehicle penetration” could quadruple by 2025, and he expects NIO to be a long-term winner of this acceleration. Lai also believes there’s “meaningful upside” for the stock at its current valuation despite its year-to-date rally of 560+%.
Citi analyst Jeff Chung upgraded NIO to Buy from Neutral as well citing backlog improvements and optimistic sales volume forecasts.
NIO reports Q3 earnings in early November.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Here's Why NIO Stock Surged Higher on Wednesday
Chinese electric-vehicle maker NIO (NIO - Free Report) closed up 23% today after a bullish upgrade from JPMorgan analyst Nick Lai. Lai upgraded NIO to overweight from neutral, and raised his price target all the way to $40 from $14.
Lai said that China’s “new energy vehicle penetration” could quadruple by 2025, and he expects NIO to be a long-term winner of this acceleration. Lai also believes there’s “meaningful upside” for the stock at its current valuation despite its year-to-date rally of 560+%.
Citi analyst Jeff Chung upgraded NIO to Buy from Neutral as well citing backlog improvements and optimistic sales volume forecasts.
NIO reports Q3 earnings in early November.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Check out Zacks’ 2020 Election Stock Report >>