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Why NIO Stock Is Up Today

TheMotleyFool

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Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher on Friday, after a Wall Street analyst initiated coverage of the company with a bullish note.

As of 11 a.m. EST, NIO's American depositary shares were up about 5.9% from Thursday's closing price.

In a note Friday morning, Nomura analyst Martin Heung initiated coverage of NIO with a rating of buy and a price target of $80.30.

Source Fool.com

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