"The tariff-driven market volatility has been rough on shares of Chinese electric vehicle (EV) maker Nio Inc. ( NYSE: NIO), which in April fell to a multiyear low of $3.02. Shares rebounded afterward. They are now up 47.9% year to date, after a 10.2% retreat in the past week, ahead of the impending release of its third-quarter report and with cautious optimism among investors."
"The stock is still trading 53.6% higher than six months ago, easily outperforming the S&P 500 in that time. Yet, Wall Street sentiment remains somewhat cautious, as well, with about half of 27 analysts who cover the stock recommending buying shares. Their mean price target ticked up to $6.93, which is more than 7% higher than the current share price. Note that the high price target is up at $9.05."
"From a stock performance standpoint, Nio has been a tale of two stories. When shares debuted on the New York Stock Exchange on Sept. 12, 2018, at $9.90, they struggled to build momentum. Not until the summer of 2020 did the stock begin to surge, gaining over 810% from June 26, 2020, to Feb. 9, 2021, when the stock hit its all-time high of $62.84. Shares have fallen considerably since then, but the long-term outlook remains strong."
Tariff-driven volatility pushed Nio shares to a multiyear low of $3.02 in April, followed by a rebound that leaves the stock up 47.9% year-to-date despite a 10.2% pullback last week. The stock trades 53.6% higher than six months ago and has outperformed the S&P 500 in that period. About half of 27 analysts recommend buying shares, with a mean price target of $6.93 and a high target of $9.05. High-performance models with a +600-mile range and battery-swap technology address range anxiety. Nio leads China’s EV market and is expanding internationally, and the long-term outlook remains strong despite past declines.
Read at 24/7 Wall St.
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