NIO Stock Price and Forecast: Charges up further on Deutsche Bank praise
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- NYSE:NIO continues its climb as shares gain nearly 11% during Tuesday’s trading session.
- Deutsche Bank reiterates buy rating and raises price target.
- NIO has favorable consumer brand ratings compared to Tesla and other big automakers in China.
NYSE:NIO continues its charge up the stock charts as the Chinese automaker gained a further 10.85% on Tuesday to close the day at $20.85, after briefly hitting a new all-time high of $21.12. The stock is now up nearly 14% so far this week and is up nearly 140% over the last three months which exhibits the bullish momentum that the stock currently has. While the entire electric vehicle sector has had a nice ride on the tailwinds of Tesla (NASDAQ:TSLA) this year, NIO seems to be setting itself apart from the rest of the field in terms of technology and innovation.
Deutsche Bank analyst Edison Yu provided a glowing review of NIO’s upcoming technology and despite some investor criticism about brand recognition as well as a reduction in its R&D division back at the end of 2018, Yu insists that NIO’s technology is ahead of its peers. Deutsche Bank has doubled down on its buy rating for NIO and has upped its price target to $24, which represents a nice 15% ceiling above the current trading levels.
NIO stock news
The Deutsche Bank upgrade was right in line with the sentiment that Bank of America (NYSE:BAC) issued earlier in the week with its own price target of $22. Nio investors who have stayed with the company through its freefall down to $1.19 per share late last year must be thrilled with the recent performance of the stock. The company has had that same reaction in its own country as a recent consumer satisfaction poll had them well ahead of other luxury brands like Tesla, BMW, and Mercedes-Benz.
- NYSE:NIO continues its climb as shares gain nearly 11% during Tuesday’s trading session.
- Deutsche Bank reiterates buy rating and raises price target.
- NIO has favorable consumer brand ratings compared to Tesla and other big automakers in China.
NYSE:NIO continues its charge up the stock charts as the Chinese automaker gained a further 10.85% on Tuesday to close the day at $20.85, after briefly hitting a new all-time high of $21.12. The stock is now up nearly 14% so far this week and is up nearly 140% over the last three months which exhibits the bullish momentum that the stock currently has. While the entire electric vehicle sector has had a nice ride on the tailwinds of Tesla (NASDAQ:TSLA) this year, NIO seems to be setting itself apart from the rest of the field in terms of technology and innovation.
Deutsche Bank analyst Edison Yu provided a glowing review of NIO’s upcoming technology and despite some investor criticism about brand recognition as well as a reduction in its R&D division back at the end of 2018, Yu insists that NIO’s technology is ahead of its peers. Deutsche Bank has doubled down on its buy rating for NIO and has upped its price target to $24, which represents a nice 15% ceiling above the current trading levels.
NIO stock news
The Deutsche Bank upgrade was right in line with the sentiment that Bank of America (NYSE:BAC) issued earlier in the week with its own price target of $22. Nio investors who have stayed with the company through its freefall down to $1.19 per share late last year must be thrilled with the recent performance of the stock. The company has had that same reaction in its own country as a recent consumer satisfaction poll had them well ahead of other luxury brands like Tesla, BMW, and Mercedes-Benz.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.