NIO - NIO Stock: I Keep Disagreeing With Wall Street
2024-04-30 18:04:06 ET
Summary
- Wall Street analysts rate NIO stock as a strong buy with an average rating of 3.89.
- I disagree with this bullish sentiment.
- I have been concerned about NIO's profitability, and my concern is exacerbated by China's ongoing EV overcapacity and intensifying competition.
Wall Street rates NIO stock as a BUY
Wall Street analysts have a pretty strong Buy rating on NIO Inc. (NIO) stock. As seen in the chart below, they give it an average rating of 3.89. This is based on ratings from 29 analysts in the last 90 days. And 11 of them rated the stock as Strong Buy and six as buy. There's a good reason behind such bullish sentiment as NIO is a textbook growth stock in a new market....
NIO Stock: I Keep Disagreeing With Wall Street