Read Why UBS Turned Bullish On This EV Manufacturer

by Shivani Kumaresan, Benzinga Staff Writer

April 4, 2022 7:59 AM | 1 min read | Make a Comment

UBS analyst Paul Gong upgraded Nio Inc NIO to Buy from Neutral with a price target of $32, implying a 45.85% upside.
Gong notes that three new model launches in 2022, based on its NT2.0 platform, could drive sales acceleration.
The analyst cited the UBS Evidence Lab electric vehicle consumer survey, which showed Nio's brand recognition is improving, providing a basis for solid sales of new products.
Nio deliveries jumped 61% sequentially and 37.6% year-over-year in March.
Price Action: NIO shares are trading higher by 5.79% at $23.20 in premarket on the last check Monday.