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Benzinga
Benzinga
World
Rachit Vats

Nio Gets Significant Price Cut From Analyst As COVID-19 Curbs Weigh On Guidance: Will There Be Recovery In The Second Half?

Nio Inc - ADR (NYSE:NIO) is expected to overcome near-term COVID-19 lockdown challenges in China on resilient demand and as production recovers, US Tiger Securities Inc analyst said on Thursday.

The Nio Analyst: US Tiger Securities analyst Bo Pei has maintained a Buy rating but lowered the price target to $35 a share from $40 on Nio after the company reported a wider first quarter loss as COVID-19-linked shutdowns hit the Shanghai-based company’s production so far this year.

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