- UBS analyst Paul Gong upgraded Nio Inc NIO to Buy from Neutral with a price target of $32, implying a 45.85% upside.
- Gong notes that three new model launches in 2022, based on its NT2.0 platform, could drive sales acceleration.
- The analyst cited the UBS Evidence Lab electric vehicle consumer survey, which showed Nio's brand recognition is improving, providing a basis for solid sales of new products.
- Nio deliveries jumped 61% sequentially and 37.6% year-over-year in March.
- Price Action: NIO shares are trading higher by 5.79% at $23.20 in premarket on the last check Monday.
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