NIO - Nio Stock Has 137% Upside According to 1 Wall Street Analyst
2024-03-08 05:07:00 ET
The electric vehicle (EV) sector is currently out of favor with investors just now. Slowing sales growth, concerns about battery performance in inclement weather, and weak quarterly results from major players in the industry lately have dampened enthusiasm.
For EV stock bulls, this provides opportunities to snap up some of these affected stocks at a discount. For instance, one analyst is convinced that Chinese company Nio (NYSE: NIO) is quite the irresistible bargain at the moment, so much so that he believes it will more than double in price over the next 12 to 18 months.
Nio just released a fresh earnings report. In reaction, Morgan Stanley 's Tim Hsaio reiterated his overweight (i.e., buy) recommendation and $13 price target on the EV maker's shares.
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Nio Stock Has 137% Upside, According to 1 Wall Street Analyst