NIO (NIO) Soars as JPMorgan Turns Bullish, Raises PT

We recently published 10 Stocks Beating Wall Street at its Own Game. NIO Inc. (NYSE:NIO) is one of the top performers of Tuesday.

NIO Inc. saw its share prices jump by as high as 12.15 percent at intra-day trading on Tuesday before closing slightly lower at $6.7 apiece as investors cheered an investment firm’s bullish rating and higher price target for its stock.

In a market note, JPMorgan raised its price target for NIO Inc. (NYSE:NIO) to $8 from $4.8 previously, while upgrading the stock to “overweight” from “neutral” on expectations that three events will propel the company’s stock price towards the end of the year.

The new figure represented a 19 percent upside from its latest closing price.

Looking ahead, NIO Inc. (NYSE:NIO) is scheduled to release the results of its earnings performance in the second quarter of the year on Tuesday, September 2, to be followed by the formal price announcement for its new ES8 vehicle and the annual NIO Day on September 20; and the said vehicle’s official launch late in September.

Additionally, JPMorgan expects NIO Inc. (NYSE:NIO) to showcase its new five-seater BEV SUV, Onvo L80, at the Guangzhou Auto Show that starts on November 21.

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