From Nasdaq, Inc.:



NIO Inc. (NIO) has seen a 13.8% gain in the past four weeks, and Wall Street analysts have set a mean price target of $11.96, indicating a potential upside of 42%. While price targets can be a useful indicator, they should be viewed with skepticism as analysts have business incentives that can lead to overly optimistic targets. However, in the case of NIO, growing optimism over the company’s earnings prospects and a Zacks Rank #2 (Buy) suggest potential upside. The Zacks Consensus Estimate for the current year has also increased by 6.5% over the past month. While the consensus price target may not be fully reliable, it does imply a positive direction of price movement. Overall, the direction of price movement based on the consensus price target, along with other factors, suggests potential upside in NIO.



Original: Wall Street Analysts Believe NIO Inc. (NIO) Could Rally 42.04%: Here’s is How to Trade