Why NIO Stock Is Charging Higher Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher on Tuesday, after a Wall Street analyst upgraded the stock despite a decline in monthly deliveries.
As of 11:30 a.m. EDT, NIO's American depositary shares were up about 7.7% from Friday's closing price.
In a new note on Tuesday, Citi analyst Jeff Chung raised his bank's rating on NIO's shares to buy, from neutral, while increasing Citi's price target for NIO to $58.30 from $57.60.
Source Fool.com
