1 Wall Street Analyst Just Cut Its Nio Price Target by 27%. Is It a Sell?
NIO(NIO) The Motley Fool·2024-03-10 11:04Investment bank Bernstein has never been a huge fan of Chinese electric car company Nio (NIO 0.52%). Bernstein's latest move on the EV stock, however, looks downright pessimistic.Since initiating coverage of Nio stock back in 2021, Bernstein has commented on Nio's valuation nearly a dozen times, according to data from TipRanks.com. Each time, the banker recommended that investors hold the stock. (Word to the Foolish: On always-optimistic Wall Street, when an analyst tells you a stock is a "hold," you are be ...