In China’s luxury electric vehicle industry, NYSE NIO at https://www.webull.com/quote/nyse-nio Inc. is a leader. It develops, sells connected luxury electric cars, advancing next-generation mobility, autonomous driving, and artificial intelligence technology. It provides consumers with creative charging options, and other customer-centric service services, redefining the user experience. Weilai, which means Blue Sky Coming in Chinese, is NIO’s Chinese name, and it represents the company’s hope and contribution to a more environmentally sustainable future.
NIO Stock Is a Good Long-Term Investment, With a Target Price of 100 USD.
The stock of NIO has dropped more than 20% in 2021. The drop in stock prices is not limited to NIO. Due to the risk-off the global chip scarcity, most EV names have taken a beating. Tesla, Xpeng, and Li Auto are among the companies that have seen their stock prices fall.
NIO stock prediction
According to Market Beat, 17 Wall Street analysts cover NYSE NIO stock. Ten analysts have given the stock a buy recommendation, while seven have given it a sell recommendation. The stock does not have any sale recommendations. The average analyst target price of 49.9 dollars means a 29 percent gain in the stock over the next year. The stock’s highest target price is 80.3 dollars, and its lowest target price is 13.5 dollars. Analysts began to change their minds about the stock after it received a lifeline from the Hefei government in March 2020.
Vijay Rakesh, a Mizuho analyst, initiated coverage on NIO on March 10 with a buy recommendation and a target price of 60 USD. NIO’s battery-as-a-service battery swap module is also a “key distinction from peers,” according to him.
The price of NIO stock could rise to $100.
NIO shares reached an all-time high of 62.84 dollars in February 2020. Many analysts believe the stock would hit 100 dollars target price sooner rather than later, after a massive 1,100 percent rally in 2020. At 38.7 dollars, 100 dollars seems to be a long way off, if at all. The company’s fundamentals haven’t deteriorated since February and April.
Many of the negative aspects of the macroeconomic climate, such as global chip scarcity, can be resolved over time. The strain on these stocks, like NIO, has been maintained by investors’ general turn away from growth stocks. However, electric mobility is the way of the future, and China will be at the forefront of the EV movement. NIO is in the right spot at the right time. NYSE NIO has strong fundamentals, and the Chinese government has backed homegrown EV industry players like NIO. There are many other stocks such as nyse chpt at https://www.webull.com/quote/nyse-chpt.