BofA analyst Ming Hsun Lee raised the firm’s price target on NIO Inc. to $70 from $59 and keeps a Buy rating on the shares after the company unveiled a new electric sedan, ET7, on January 9 that is scheduled to start being delivered in the first quarter of 2022.
The ET7’s pricing “appears competitive,” said Lee, who also notes that the company announced it adopted solid state battery technology and looks to deliver a 150kWh solid state battery pack by the last quarter of 2022.
previous post