Morgan Stanley Comments on NIO (NIO) Hang Seng Index Inclusion
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Morgan Stanley analyst Tim Hsiao reiterated an Overweight rating and $34.00 price target on NIO (NYSE: NIO).
The analyst comments "A bit more liquidity, a bit more diversity: Index inclusion should attract some directional shift of passive funds tracking index that could bolster near-term liquidity of H-shares (US$54mn for Nio's H-share vs. US$176mn for the ADR over the past 3 months). Meanwhile, the stock's previous SGX listing could also attract some high net worth investors. As mentioned in our previous reports, being triple-listed, NIO is now better positioned to hedge ADR de-listing risks. All eyes are still on potential A-share listing which will take longer to eventuate."
Shares of NIO closed at $16.44 yesterday.
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