Nio (NIO) Stock: BofA Reiterates Buy After Record Q3 Deliveries, Analyst Sees Over 70% Upside
- Wall Street reverses, ends higher in late session rally
- IBM (IBM) Shares Up 6% Following Strong Q4 Results
- Kohl's (KSS) Shares Explode 30% as Takeover Battle Heats Up
- Cowen Sees Apple (AAPL) Likely to Bounce on Earnings, iPhone Upside and Flight to Quality
- FDA Limits Use of Two Monoclonal Antibodies For COVID-19 Treatment Due to the Omicron Variant
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Shares of Nio (NYSE: NIO) are up over 2% in today’s trading session after the company delivered strong delivery numbers for September.
Nio reported 10,628 vehicles globally in September 2021, which is a new record high that marks 125.7% YoY growth. Nio delivered 1,978 ES8s, 5,260 ES6s, 3,390 EC6s to push the total Q3 deliveries number to 24,439.
BofA analyst Ming Hsun Lee reiterated a Buy rating and a $62.00 per share price objective.
“We maintain our Buy rating, given solid volume sales/model pipeline, and the company’s focus on autonomous driving, powertrain, and charging solutions to enhance user experience,” Hsun Lee said in a client note.
Shares of Nio are down over 32% YTD.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BofA Cuts Price Target on Alibaba (BABA), Reiterates Buy as Consumption Recovery in 2H22 is Likely to Fuel Recovery
- HubSpot Inc (HUBS) Expert Call Points to an Improvement in Seasonal Strength from 3Q - Jefferies
- Allkem Limited (AKE:AU) (OROCF) PT Raised to AUD15 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!