CLSA Starts NIO (NIO) at Buy (1), $50 PT
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(Updated - April 23, 2021 8:00 AM EDT)
CLSA analyst Soobin Park initiates coverage on NIO (NYSE: NIO) with a Buy (1) rating and a price target of $50.00.
The analyst comments "Indicators are on and NIO is signalling a new direction into new luxury EV, global and even mobility markets. After establishing itself as a premium electric SUV maker over a mere seven years, it is now planning to move into sedans as well as going on a European drive. Its innovative battery-charging model may be a major draw for users and differentiates it from other high-end EV producers, as does its investment in future technology. We initiate coverage at a BUY with a US$50.00 target, powered by our 48% sales Cagr assumption over 2020-25CL."
Shares of NIO closed at $39.57 yesterday.
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