nio-soars-to-new-highs-after-bullish-call-from-morgan-stanley

NIO soars to new highs after bullish call from Morgan Stanley

NIO) is soaring to all-time-highs after a bullish call from Morgan Stanley analyst Tim Hsiao.” data-reactid=”17″ type=”text”>NIO (NIO) is soaring to all-time-highs after a bullish call from Morgan Stanley analyst Tim Hsiao.

The analyst upgraded the American depository shares of the Chinese electric car maker to Overweight and a price target of $20.50. Shares were trading around that level, up about 15% during Wednesday’s mid-session

TSLA).” data-reactid=”23″ type=”text”>NIO shares have been on fire this year, along with competitor Tesla (TSLA).

Analysts have been increasingly bullish about the Chinese luxury electric vehicle maker over a string of positive developments recently.

secured $1 billion in investments from state-owned companies in Heifi, removing liquidity risks going into next year.” data-reactid=”25″ type=”text”>Since the coronavirus pandemic, NIO has secured $1 billion in investments from state-owned companies in Heifi, removing liquidity risks going into next year.

launch of a battery subscription program. This way customers can buy a vehicle for a lower price while paying a subscription for a battery pack separately.” data-reactid=”26″ type=”text”>The company recently announced the launch of a battery subscription program. This way customers can buy a vehicle for a lower price while paying a subscription for a battery pack separately.

NIO may expand globally starting with Europe later this year.” data-reactid=”27″ type=”text”>Analysts have also made note of indications that NIO may expand globally starting with Europe later this year.

NIO’s new electric vehicle (EV) ET7 is unveiled during the media day for Shanghai auto show in Shanghai, China April 16, 2019. REUTERS/Aly Song

upgraded the stock to Neutral from Sell citing a strong global market appetite for electric vehicles. That call shot up shares as much as 19% on Tuesday. Gong had previously been bearish on the company dubbed “The Tesla of China.”” data-reactid=”39″ type=”text”>The stock’s breakout this week began when UBS analyst Paul Gong upgraded the stock to Neutral from Sell citing a strong global market appetite for electric vehicles. That call shot up shares as much as 19% on Tuesday. Gong had previously been bearish on the company dubbed “The Tesla of China.”

2nd quarter results which beat analyst expectations. Founder and chairman William Li noted “historically high vehicle gross margin of 9.7%, lowest-ever operating losses and more importantly, a positive cash flow from operations for the first time in our history.”” data-reactid=”40″ type=”text”>Earlier this month NIO reported 2nd quarter results which beat analyst expectations. Founder and chairman William Li noted “historically high vehicle gross margin of 9.7%, lowest-ever operating losses and more importantly, a positive cash flow from operations for the first time in our history.”

surging 22% during one session after reporting a whopping 179% for its June sales.” data-reactid=”41″ type=”text”>The stock has also seen some double digit percentage daily gains throughout the summer, surging 22% during one session after reporting a whopping 179% for its June sales.

downgraded NIO to Sell saying “the current share price reflects over-optimism.” That call sent the stock tumbling 14% in one day.” data-reactid=”42″ type=”text”>It hasn’t been a totally smooth ride for investors. In late July, Goldman Sachs analyst Fei Fang downgraded NIO to Sell saying “the current share price reflects over-optimism.” That call sent the stock tumbling 14% in one day.

Year-to-date NIO is up about 616%.

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@ines_ferre” data-reactid=”56″ type=”text”>Ines covers the U.S. stock market. Follow her on Twitter at @ines_ferre

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