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Nio (NIO) Gets a Hold from Bank of America Securities

Tipranks - Sat Feb 28, 2:28AM CST

In a report released yesterday, Ming-Hsun Lee from Bank of America Securities reiterated a Hold rating on Nio, with a price target of $6.30. The company’s shares closed yesterday at $5.09.

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According to TipRanks, Lee is a 4-star analyst with an average return of 17.5% and a 39.80% success rate. Lee covers the Consumer Cyclical sector, focusing on stocks such as Nio, XPeng, Inc. ADR, and WeRide.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nio with a $6.49 average price target, which is a 27.50% upside from current levels. In a report released today, DBS also maintained a Hold rating on the stock with a $6.60 price target.

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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