Keep an eye on Nio Inc. (NIO) heading into earnings.
We expect to hear good things after the company announced it delivered 7,257 vehicles in March – an increase of 373% year over year. In addition, for the first quarter of 2021, it delivered 20,060 vehicles – an increase of 423% year over year.
If the company provides solid guidance for the rest of the year, NIO could have the potential to accelerate from a current price of $42.62. Helping, CLSA analyst Soobin Park just initiated coverage of the stock with a buy rating, and a $50 price target.
We also have to consider that general EV growth isn’t likely to slow.
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