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Bank of America raises estimates on Nio (NIO) following strong delivery growth

August 16, 2023 8:08 AM EDT

Bank of America reiterated a Buy rating on Nio Inc. (NYSE: NIO) and raised their 12-month price target on the stock to $16.20 (From $15.40) after the electric vehicle maker reported its monthly deliveries numbers.

NIO recorded a significant increase in deliveries in July, with... More