Citigroup raises price target for NIO

NIO (NYSE:NIO) had its price target upped by equities research analysts at Citigroup from $16.00 to $18.10 in a report issued on Wednesday, The Fly reports.

The firm presently has a “neutral” rating on the stock. Citigroup‘s price target would suggest a potential downside of 8.95% from the stock’s current price.

Several other research firms have also recently weighed in on NIO. UBS Group upgraded shares of NIO from a “sell” rating to a “neutral” rating and set a $16.30 price objective on the stock in a research report on Tuesday.

Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and set a $7.00 price target for the company. in a research note on Friday, July 17th. Morgan Stanley upgraded shares of NIO from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $12.00 to $20.50 in a research report on Wednesday.

Bank of America reaffirmed a “buy” rating and set a $18.00 price objective on shares of NIO in a report on Wednesday, August 12th. Finally, assumed coverage on NIO in a research note on Tuesday, June 9th. They issued a “sell” rating on the stock.

Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. NIO presently has an average rating of “Hold” and a consensus price target of $10.61.

NIO stock opened at $19.88 on Wednesday. NIO has a fifty-two week low of $1.19 and a fifty-two week high of $20.97. The stock has a market cap of $18.30 billion, a P/E ratio of -17.44 and a beta of 2.61.

CitiThe firm’s fifty day moving average price is $13.42 and its 200-day moving average price is $6.53.

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