Nio Drops 4% on J.P. Morgan Downgrade and $4.50 Price Target, XPeng and Li Auto Slip
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The post Nio Drops 4% on J.P. Morgan Downgrade and $4.50 Price Target, XPeng and Li Auto Slip appeared first on 24/7 Wall St..
Shares of Nio (NYSE:NIO) are down 4% to $3.92 in early Wednesday trading after J.P. Morgan cut the stock to Neutral from Overweight and lowered its price target to $4.50 from $7.00. The move stands out because the research note credits the company’s execution and blames the market it sells into.
The peer group is lower by a fraction of that move. XPeng (NYSE:XPEV)
Shares of Nio (NYSE:NIO) are down 4% to $3.92 in early Wednesday trading after J.P. Morgan cut the stock to Neutral from Overweight and lowered its price target to $4.50 from $7.00. The move stands out because the research note credits the company’s execution and blames the market it sells into.
The peer group is lower by a fraction of that move. XPeng (NYSE:XPEV)
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