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.