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An $80 Price Would Drive Nio To Become the Third-Largest Automaker – InvestorPlace
Nio is currently the fifth-largest automaker by market cap in the world, and it’s closing in on 3rd place. Can it get there?
As I’m preparing my latest article about Nio (NYSE:NIO
), the hard-charging Chinese manufacturer of electric vehicles (EVs), Nio stock trades for $60. That values the company at $93.6 billion, good for the fifth spot amongst the world’s largest automakers by market capitalization.
Source: Sundry Photography / Shutterstock.com
On Feb. 1o, Deutsche Bank analyst Edison Yu reiterated his “buy” rating and $70 price target. By hitting Yu’s target, Nio could become the third-largest automaker in the world.
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