Is the Bottom in for Nio Stock? Analyst Weighs In
Earlier this month, Deutsche Bank’s Edison Yu issued a Catalyst Call on Nio (NIO) $NIO Inc(NIO.US$ stock, recommending it as a short-term play, based on the premise the stock was ripe for a turnaround after falling ~30% from February's peak.
The idea did not work out as planned initially. While Yu concedes his call might have been too early as he underestimated a number of “tactical factors,” the analyst sees several reasons why investor sentiment “should be close to bottoming.” Well, it appears the market has been taking notes, as shares climbed 7% higher in Monday’s session.
Whether the short-term idea works out or not, with the long-term in mind, Yu sticks with a Buy rating and $70 price target, suggesting shares will surge ~71% over the next 12 months. (To watch Yu’s track record, click here)
Looking at the consensus breakdown, almost all of Yu’s colleagues agree; barring one Hold, all 7 other recent reviews are positive, culminating in a Strong Buy consensus rating. The average price target is a more modest $57.13, yet the figure still implies one-year upside of 35%
Article excerpted from Yahoo.
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Becky007 : Follow the company news. More exports. increased local registration, into the charging... and so on .... by next year 70 is low target I can easily see 120 - 150
earning_s : Will Weilai's stock be bought or sold after recent gains?
RocketProfits 2 : JAC motors may be a better bet until 2023 when NIO cars should start being made and delivered if China isn’t in a recession. Blackouts we’ll see this winter how it goes.