Citi Sees a Short Term Opportunity in NIO (NIO)
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Citi analyst Jeff Chung reiterated a Buy rating and $87.00 price target on NIO (NYSE: NIO) on the belief that the company's HK IPO on 10 March should largely mitigate the political risks that have concerned the market about Nio in the past 6 months.
The analyst stated "We believe the market will react positively to the stock in the next 1-2 days, though share price movements thereafter are likely to reflect monthly NEV sales volumes."
Shares of NIO closed at $20.94 yesterday.
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