Nio Stock Has 137% Upside, According to 1 Wall Street Analyst
The electric vehicle (EV) sector is currently out of favor with investors just now. Slowing sales growth, concerns about battery performance in inclement weather, and weak quarterly results from major players in the industry lately have dampened enthusiasm.
For EV stock bulls, this provides opportunities to snap up some of these affected stocks at a discount. For instance, one analyst is convinced that Chinese company (NYSE: NIO) is quite the irresistible bargain at the moment, so much so that he believes it will more than double in price over the next 12 to 18 months.
Nio just released a fresh earnings report. In reaction, Morgan Stanley's Tim Hsaio reiterated his overweight (i.e., buy) recommendation and $13 price target on the EV maker's shares.
Source Fool.com
NIO Inc. Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
As a result the target price of 5 € shows a positive potential of 24.41% compared to the current price of 4.02 € for NIO Inc..
