Mizuho Downgrades NIO to Neutral, Announces $5.5 Price Target
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Vijay Rakesh downgraded NIO Inc. (NYSE:NIO) from Buy to Neutral and set a new price target of $5.5. This adjustment reflects a change in the firm's outlook on NIO's stock.
March 25, 2024 | 8:43 am
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Mizuho analyst Vijay Rakesh downgraded NIO from Buy to Neutral and set a price target of $5.5, indicating a more cautious outlook on the stock.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic view on the company's future performance. The new price target of $5.5 by Mizuho, set by a reputable analyst, could influence investor sentiment and potentially lead to a decrease in NIO's stock price in the short term.
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