NIO Inc. (NIO) Nearly Hits New High as Analyst Sets Higher Price, Rating

Group 1 - NIO Inc. experienced a significant increase in share prices, reaching a high of $7.09, just 62 cents below its 52-week high of $7.71, before closing at $7.02, an 8.17% increase for the day [1] - UBS upgraded NIO from "neutral" to "buy" and raised its price target from $6.2 to $8.5, indicating a 21% upside from the latest closing price [2] - The upgrade reflects confidence in NIO's upcoming vehicle launches, including the L90 and ES8, and a recent $1 billion share sale that alleviated concerns about the company's losses [3] Group 2 - UBS anticipates a 50% growth in NIO's revenues, which is expected to surpass that of competitor XPeng, supported by a richer product mix [3] - The financial improvements at NIO could help close the valuation gap with XPeng, indicating a competitive positioning in the market [3]