$NIO Inc.(NIO)$
Barclays analyst Jiong Shao cut Nio's price target to $18 per share from $19, citing cost concerns.
UBS analyst Paul Gong is even more bearish about Nio now, having slashed the EV stock's price target to $13 today from $32.
It appears most analysts were compelled to slash their price targets on Nio stock just because it dropped to as low as $10 per share.
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