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Home / Business / The Nio price target has risen to $ 34 at Deutsche Bank

The Nio price target has risen to $ 34 at Deutsche Bank



Analysts at Deutsche Bank on Tuesday raised their price targets on Nio Inc.’s deposit receipts. NIO in America,
+ 4.90%
rose $ 8 to $ 34, after another month of record sales by the Chinese electric carmaker and confidence that its order book will “remain solid.” Analysts reiterated their buy ratings for the stock. There is some risk that Tesla Inc. TSLA,
+ 4.98%
may lower the locally produced Model Y, “which could hurt sentiment in the short term and slow down Nio̵

7;s order momentum as it will be a direct competitor to Nio’s EC6 and ES6 vehicles. ” word of mouth … we continue to believe that NIO can take a significant share in the premium segment as consumers begin to understand the value and quality of their products and services, “said the analyst. Edison Yu said that its sales had more than doubled in October. The ADR index has risen more than 760% this year, compared with a roughly 5% increase in the S&P 500. SPX,
+ 1.96%


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