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Shares of Nio Inc (NYSE:NIO) are trading higher in Friday’s premarket session. This follows a fourth-quarter earnings report and a wave of positive Wall Street sentiment.
Analysts Pivot to Bullish Outlook
Nomura upgraded the stock to Buy from Neutral following the results. The firm cited improving operational momentum as a primary driver.
Analysts at Macquarie also raised their price forecast to $6.50. They pointed to improved vehicle margins and lower operating cash flow.
Morgan Stanley remains Overweight with a $7.00 price target. This reflects confidence in Nio’s 40% to 50% delivery growth forecast.
HSBC has upgraded NIO’s stock rating to Buy …
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