Will China's NIO Become the "Next Iconic Auto Brand?"

Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) jumped on Tuesday after a key Wall Street analyst said that the company could become the "next iconic auto brand," at least in China.

Is he right? Let's take a look

Deutsche Bank analyst Edison Yu originally initiated coverage of NIO on Sept. 8 with a buy rating and a $24 price target. In a new note on Sept. 29, Yu wrote that investors had pushed back on his initial rating, saying that the company's brand doesn't draw the levels of excitement and loyalty that Tesla and the German luxury brands enjoy with Chinese consumers.

Source Fool.com