Nio Inc (NIO)

[GeoMoney1]

China EV Stock Could More Than Double: Analyst
The "tide may finally be turning" for Nio stock, Deutsche Bank analyst Edison Yu wrote March 20.

"While volumes have stagnated over the past few quarters due to operational bottlenecks, we think deliveries are on track to increase from 10,000 per month to 25,000 exiting the year, which will shift the narrative away from supply constraints to product cycle," he said.

Yu tied his expectations to the launch of several new electric vehicles.

"We expect three new models to begin deliveries this year starting with the ET7 next week, which, based on local media reports, has garnered very favorable early reviews," Yu said. He rates Nio stock a buy with a 12-month price target of 50.

Nio's an emerging rival to Tesla in China. Nio CEO William Li sees the luxury, highly autonomous ET7 electric sedan as a rival to the Model S.