JP Morgan
JP Morgan: We believe Chinese EV supply chain is on a multi-year rise
After raising their price target on Chinese electric vehicle (EV) maker NIO (NYSE: NIO) sharply to $40 in a report released on Wednesday, JP Morgan analysts led by Nick Lai gave a positive review on the Chinese EV supply chain in a new report on Thursday.
NIO stock surges more than 8% pre-market as JP Morgan sharply raises price target to $40
The shares of Chinese electric vehicle (EV) maker NIO (NYSE: NIO) rose by more than 8 percent in pre-market trading on Wednesday after JP Morgan's bullish rating.
JP Morgan sharply raises NIO price target to $40, representing 85% upside potential
JP Morgan gave NIO an Overweight rating and admitted that "we missed the stock's major rally YTD."