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1 Wall Street Analyst Just Put Nio Stock on "Catalyst Watch." Will Shares Double From Here?
Shares of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) have soared by almost 40% since the first week of April. One Wall Street analyst thinks that's just the beginning. Not only that, Citigroup analyst Jeff Chung believes more moves higher are imminent.In a report Chung released on Sunday, the analyst placed Nio on a 30-day positive "catalyst watch," reports Barron's. Chung even thinks the stock is worth $8.10 per share, which would represent a more than 100% gain from where it traded at the time of his report.Continue reading
Shares of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) have soared by almost 40% since the first week of April. One Wall Street analyst thinks that's just the beginning. Not only that, Citigroup analyst Jeff Chung believes more moves higher are imminent.
In a report Chung released on Sunday, the analyst placed Nio on a 30-day positive "catalyst watch," reports Barron's. Chung even thinks the stock is worth $8.10 per share, which would represent a more than 100% gain from where it traded at the time of his report.
