Mizuho Securities Starts NIO (NIO) at Buy

(Updated - March 10, 2021 4:03 PM EST)

Mizuho Securities analyst Vijay Rakesh initiates coverage on NIO (NYSE: NIO) with a Buy rating and a price target of $60.00.

The analyst comments "NIO is a leader and innovator in the premium automotive EV segment; it is domiciled in China, the largest and most prolific EV market globally. NIO has a key differentiation from peers: a premium EV offering with a lower cost of ownership through its novel Battery-as-a-Service ("BaaS") battery swap module. With a small 0.1% share of overall global light vehicle production ("LVP"), we believe NIO has significant upside as it expands in China, into Europe in 2H21E, and potentially into other markets. EVs are expected to grow to 25% of global LVP by 2025 from only 4% today."

For an analyst ratings summary and ratings history on NIO click here. For more ratings news on NIO click here.

Shares of NIO closed at $41.35 yesterday.

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