NIO (NIO.US) stock rose sharply yesterday after once bearish analyst Paul Gongin from UBS upgraded company's shares to neutral from sell and raised his price target to $16.30 from just $1.00 citing financial improvements and plans to sell in Europe in the second half of 2021. The company's shares rose in the second quarter and July as sales rebounded after the pandemic hit. Last month sales of premium electric SUVs increased 322 % year-on-year. Also company posted strong Q3 guidance.
Despite strong global interest in NIO, Gong still advises caution. In his opinion the company requires additional financing in order to sustain its growth. This means that at some point the company may have to make another capital increase.
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NIO (NIO.US) stock surged over 19% yesterday, reaching record high of $17.84. Today, one can see that the upward move is being continued after US open. During today's session stock rose over 11%. Source: xStation5
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