NIO Stock Upgrade ?

It's time for the Analysts to review and give an Upgrade to NIO for the below reasons. It might be coming anytime soon today or before the earnings.

1. As reported by Barrons NIO got an upgrade just a week back from Chinese investment bank named China International Capital Corp., or CICC. Analyst Lei Wang upgraded the electric-vehicle maker’s stock to the equivalent of Buy from Hold. What’s more, his price target went to $13.50 from $5.50, up about 145%. 

2. Since it's a chinese stock Analysts never cared but now they are catching up and its due for an analyst rating. I am not talking about the infamous Goldman Sachs Mr Fei Fang who gave a Buy rating then changed it to Hold and then changed it to Sell in a 3 weeks time span. Investors felt he is less credible source because of his inappropriate ratings which can be seen in many investor discussion forums. 

3. There were lot of articles published about NIO stock as costly, use caution. They were right because they thought June 2020 sales deliverable were pure luck for NIO as it never delivered that type of numbers in its history. Today NIO released July 2020 sales- the second best figures that's 2 consecutive sales beat in a row and lots of promising news in the pipeline which will make the same analysts to rethink and reevaluate NIO stock as it is the NEXT Tesla of China. 

4. Analyts are now realizing that NIO built a strong foundation in the last few years with their battery swap facilities, expanding their sales show rooms, NIO houses and so on. Now they are seeing the benefits.

The EC6. Image source: NIO.