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NIO - Nio Stock No Longer a Sell According to 1 Wall Street Analyst
NIO Inc. American depositary shares each representing one Class A
2024-05-15 16:17:09 ET
Good news for Nio (NYSE: NIO) shareholders! For three long months, investment bank J.P. Morgan said the Chinese electric vehicle (EV) maker's stock was a sell.
But no longer.
On Wednesday, the bank's investment firm relented and removed its sell rating from Nio, upgrading the EV stock to neutral and setting its price target at $5.40 per share. That price implies an upside of just 2% on the current $5.32.