Shares of Chinese electric vehicle maker NIO (NYSE: NIO) were trading higher on Thursday morning, after a Wall Street analyst initiated coverage of the company with a bullish note.
As of 10:30 a.m. EST, NIO's American depositary shares were up about 4.6% from Wednesday's closing price.
In a new note released after the U.S. markets closed on Wednesday, Mizuho analyst Vijay Rakesh initiated coverage of NIO with a buy rating and a price target of $60.
Source Fool.com