Wall Street sets Nio stock price for the next 12 months

Core Viewpoint - Nio has faced significant volatility in its stock price throughout 2024, influenced by vehicle delivery figures, strategic investments, and broader market conditions [2][4]. Stock Performance - Nio's stock started 2024 at approximately $8.50, fell to $3.80 by April due to disappointing delivery figures, and briefly recovered to $5.79 in May before dropping again to $3.70 [2]. - Following a $470 million strategic investment and record delivery numbers, Nio's stock surged to $7.21 after a stimulus package announcement on September 25, but subsequently fell by 36.89% to $4.55 [2]. - Year-to-date, Nio's stock is down 45.78% [2]. Analyst Ratings and Price Targets - In the last three months, 15 market experts have provided ratings for Nio stock, with 8 'Buy' ratings, 5 'Hold' ratings, and 2 'Sell' ratings, indicating a consensus 'Moderate Buy' [3]. - The lowest price target for Nio is $3.90, representing a 14.28% downside, while the highest target is $8.90, with an average forecast of $6.01, indicating a 31.22% upside [3]. Earnings and Long-term Outlook - The Q3 2024 earnings call on November 20 left investors disappointed, but Nio's unique selling point in swappable battery technology and institutional backing suggest potential for long-term value, despite profitability being years away [4].