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Why Nio Stock Is Higher Today

TheMotleyFool

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

As of 11:30 a.m. ET, Nio's American depositary shares were up about 2.3% from Monday's closing price.

In a new note on Tuesday, Barclays analyst Jiong Shao initiated coverage of Nio with an overweight rating and a price target of $34.

Source Fool.com

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