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Bernstein Just Cuts Its Price Target on NIO Stock
NIONIO(NIO) InvestorPlace·2024-03-07 17:07

Bearish coverage of Nio (NYSE:NIO) only seems to be increasing. The Chinese electric vehicle (EV) producer is falling out of favor with Wall Street at an alarming pace as shares continue declining. Most recently, analyst Eunice Lee of AB Bernstein reiterated a “hold” rating for NIO stock and lowered her price target from $7.50 to $5.50. Shares are currently trading at $5.64, but if this sentiment continues, they will likely drop even further.It’s true that Nio recently reported weaker-than-expected earnings ...