Barclays Downgrades NIO to Underweight, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Jiong Shao downgraded NIO Inc. (NYSE:NIO) from Equal-Weight to Underweight and reduced the price target from $5 to $4, indicating a bearish outlook on the company's stock.
April 02, 2024 | 6:56 pm
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Barclays analyst Jiong Shao downgraded NIO Inc. from Equal-Weight to Underweight and lowered the price target from $5 to $4, suggesting a negative outlook on the stock.
The downgrade by Barclays, a significant financial institution, directly impacts NIO's stock by altering investor perception and potentially leading to a decrease in stock price. The reduction in the price target further emphasizes the analyst's bearish outlook, suggesting that the stock may underperform in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100