CLSA Starts NIO (NIO) at Buy (1), $50 PT

April 23, 2021 1:16 AM EDT
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Price: $36.68 -2.73%

Rating Summary:
    11 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 28 | Down: 11 | New: 10
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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."

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 $39.57 yesterday.

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