Why NIO Stock Is Moving Higher Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were moving higher in early trading on Wednesday, after a Wall Street analyst raised his bank's price target for the shares in a bullish note.
As of 10:15 a.m. EDT, NIO's American depositary shares were up about 5.1% from Tuesday's closing price.
In a note released on Tuesday afternoon. Citibank analyst Jeff Chung raised the bank's price target on NIO to $72, from $58.30, while reiterating his previous buy rating on the shares.
Source Fool.com
