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Nio (NIO) Gets a Buy from J.P. Morgan

Tipranks - Tipranks - Mon Feb 9, 12:50PM CST

J.P. Morgan analyst Nick Lai maintained a Buy rating on Nio today and set a price target of $7.00.

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Lai covers the Consumer Cyclical sector, focusing on stocks such as Li Auto, Inc. Class A, XPeng, Inc. Class A, and BYD Co. According to TipRanks, Lai has an average return of -2.0% and a 39.62% success rate on recommended stocks.

In addition to J.P. Morgan, Nio also received a Buy from Citi’s Jeff Chung in a report issued on January 30. However, on February 5, DBS maintained a Hold rating on Nio (NYSE: NIO).

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Based on Nio’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $19.01 billion and a GAAP net loss of $5.14 billion. In comparison, last year the company earned a revenue of $17.45 billion and had a GAAP net loss of $5.13 billion

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