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Benzinga

Business

Shivani Kumaresan

Citi Remains Bullish On This EV Company, Trims Price Target

Citi NIU Niu Technologies

Citi analyst Beatrice Lam lowered the price target on Niu Technologies (NASDAQ:NIU) to $35 from $39 and kept a Buy rating on the shares, implying a 303% upside.
Lam noted that the company reported "solid" fiscal 2021 earnings with 52% year-over-year growth in revenue.
The analyst trimmed the price target to factor in more conservative margin estimates due to recent commodity cost increases.
Related: Niu Technologies Stock Slides After Q4 Results; Clocks 47% Sales Growth
Price Action: NIU shares are trading higher by 1.73% at $8.83 in premarket on the last check Tuesday.

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