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Why NIO Stock Is Up Today

TheMotleyFool

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Why NIO Stock Is Up TodayPhoto, wide shot, wide-angle lens, Automotive service center, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/c8dbaa5e-abdb-40ac-b919-ed80785b056a.png

Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher again on Wednesday following an upgrade from a Goldman Sachs analyst.

As of 11:30 a.m. EDT, NIO's American depositary shares were up about 10.7% from Tuesday's closing price and up nearly 25% since the company's earnings report on May 28.

In a note released late on Tuesday, Goldman Sachs analyst Fei Fang raised his rating on NIO's shares from neutral to buy with a price target of $6.40.

Source Fool.com

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