UPDATE: UBS Upgrades NIO (NIO) to Buy

(Updated - April 4, 2022 5:26 AM EDT)

UBS analyst Paul Gong upgraded NIO (NYSE: NIO) from Neutral to Buy with a price target of $32.00 (from $46.00).

The analyst comments "We upgrade NIO to Buy after its share price is down 44% in the past 12 months. While its sales volume growth has slowed with aging products, we believe its three new model launches slated for 2022, based on its second-generation NT2.0 platform, could drive sales acceleration. UBS Evidence Lab's EV consumer survey (>Access Dataset) reveals NIO's improving brand recognition, providing a basis for new products' strong sales volumes, in our view."

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 $21.93 yesterday.

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