With 2021 drawing to a close, it has been a disappointment for Nio (NIO) investors, with shares down 18% on a year-to-date basis. However, following talks with NIO's CFO, Mizuho analyst Vijay Rakesh is confident 2022 will be a “big year” for the company dubbed the Chinese Tesla. Rakesh reiterated a Buy rating on NIO shares along with a $65 price target. This target brings the upside potential to ~61%. (To watch Rakesh’s track record, click here) So, what’s behind the exuberant take? Well, first of all, in 2022 there should be three new vehicle model launches, and amongst them the analyst expects a “higher-volume, lower-priced ET5 sedan.
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NIO (NYSE:NIO)
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