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Wall Street sets Nio stock price for next 12 months

Wall Street sets Nio stock price for next 12 months

A little over a month ago, the average analyst 12-month price target for the Chinese electric vehicle (EV) maker Nio Inc. (NYSE: NIO) stood at $10.86 – a staggering 90% above the price Nio stock boasted at the time.

The forecasts were active at a time when many believed the EV bubble might have burst and a time when Chinese stocks were seemingly headed toward new lows, having added another $1 trillion in losses to the $6 trillion 3-year wipe.

Since then, and in particular, in the latest full trading week, Nio’s performance in the stock market has significantly improved – as has the performance of multiple Chinese EV companies and the Chinese markets as a whole – but Nio Inc. kept losing its more favorable ratings. 

Wall Street analysts sharply divided on Nio

Wall Street’s recent trend of bearishness toward Nio, along with the company’s recent positive performance, has resulted in analysts being sharply divided on the firm’s 12-month prospects.

Indeed, out of the 12 experts represented on the stock analysis platform TipRanks, 5 rate Nio stock as a “buy,” 1 as a “sell,” and the remaining 6 retain their neutrality.

While Nio’s average rating of “moderate buy” remains much the same as in early February, the 12-month price targets have very noticeably declined. 

The highest projected price as of March 12 – assigned earlier this month by Citigroup (NYSE: C) – is, for example, $0.40 lower than the average target on February 2 at $10.40.

Nio stock 12-month price target. Source: TipRanks

Additionally, the average price at press time stands at $7.02 and could be achieved should Nio stock climb another 15.68%, while the lowest – given by JPMorgan (NYSE: JPM) less than a week ago – would see the EV maker drop another 21.31% to $4.80.

Nio stock technical analysis

Nio stock’s mixed 2024 performance is not only reflected in analyst views but also in the technical analysis (TA) for the shares, which varies wildly depending on the time frame used. 

As it stands, Nio is judged a “buy” by oscillators and a “strong sell” by moving averages (MA) when the monthly chart is used, it remains a strong sell for MA on the weekly chart with oscillators turning neutral but becomes a “buy” across the board when judged based on the latest 24 hours.

Nio stock technicals based on monthly, weekly, and daily performance. Source: TradingView

Nio stock price chart

When looking at Nio stock’s most recent performance, the company appears to be doing increasingly well. As it stands, the last 30 days saw it rise 0.99%, the last full week of trading saw an impressive 14.13% surge, and the daily chart – with a press time price of $6.14 – also logs a 0.57% increase in value.

NIO 7-day stock price chart. Source: Finbold

Longer term, however, the story becomes more negative. Nio shares are, despite the weekly gains, 27.08% in the red year-to-date (YTD) and 28.19% down in the last 52 weeks. Nio stock price today at press time is also 37.98% below its initial public offering (IPO) price.

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