Nio Stock Has 10% Upside, According to 1 Wall Street Analyst

Nio (NYSE: NIO) might be making progress on several fronts, but the stock hasn't been reflecting it. And now, one Wall Street analyst has cut his firm's price target on the Chinese electric vehicle (EV) maker by one-third.J.P. Morgan's Nick Lai has suggested owners of U.S.-listed Nio shares continue to hold them but doesn't recommend buying more right now. He has slashed his price target on the shares from $7 to $4.70, according to reports.The new target price still represents about 10% more upside from recent levels, but Lai doesn't think the business is growing the way it should. Investors seem to agree: The stock has dropped more than 20% over the last year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool