Why This Analyst Thinks Nio Stock Is Going To Recover

Benzinga2022-05-23

Nio shares are likely to bounce from the recent fall, TipRanks.com reported on Sunday, citing Mizuho Securities analyst VijayRakesh.

What Happened:Mizuho analyst has maintained a "buy" rating on Nio and kept the price target of $60 on the stock.

Nio shares closed 1.4% lower at $16.4 on Friday and are down 51% year-to-date.

Why It Matters:Nio shares have been under pressure off-late as the U.S. listed stock faces delisting risk as Beijing refused to allow auditing access.

The stock also has a secondary listing on Hong Kong and Singapore exchanges.

Shanghai-based Nio is set to report first-quarter earnings on June 9, before the market opens.

The EV maker has guided first-quarter revenue to come in between $1.51 billion and $1.57 billion.

Nio delivered 25,768 vehicles in the three months ended March, a jump of 28.5% year-over-year.

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Comments

  • ahVenroar
    2022-05-23
    ahVenroar
    Nice[Miser] 
  • PTTRADER
    2022-05-23
    PTTRADER
    Can hold for long term? 
  • ShareShare
    2022-05-23
    ShareShare
    Already down by 51%. Is it a good time to buy?
  • Jazling
    2022-05-23
    Jazling
    Wow
  • MrHuattt
    2022-05-23
    MrHuattt
    1or2
  • babiboo
    2022-05-23
    babiboo
    Hmm maybe
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