Citi Remains Bullish On This EV Company, Trims Price Target

by Shivani Kumaresan, Benzinga Staff Writer

March 8, 2022 7:35 AM | 1 min read |

Citi analyst Beatrice Lam lowered the price target on Niu Technologies NIU to $35 from $39 and kept a Buy rating on the shares, implying a 303% upside.
Lam noted that the company reported "solid" fiscal 2021 earnings with 52% year-over-year growth in revenue.
The analyst trimmed the price target to factor in more conservative margin estimates due to recent commodity cost increases.
Related: Niu Technologies Stock Slides After Q4 Results; Clocks 47% Sales Growth
Price Action: NIU shares are trading higher by 1.73% at $8.83 in premarket on the last check Tuesday.