Nio Stock Surges As Analyst Says It May Be ‘Next Iconic Auto Brand’



Image of Nio (NIO) logo branded on the exterior of a corporate building.


© Source: Sundry Photography / Shutterstock.com
Image of Nio (NIO) logo branded on the exterior of a corporate building.

Chinese electric car maker Nio (NYSE:NIO) was written off by many last year. However, the company has managed a huge turnaround in the second half of 2020. And so has Nio stock.



Image of Nio (NIO) logo branded on the exterior of a corporate building.


© Provided by InvestorPlace
Image of Nio (NIO) logo branded on the exterior of a corporate building.

Trading below $2.40 back in March, NIO began to surge at the end of May and hasn’t looked back. The September tech stock selloff? NIO shares did drop slightly, but that was a minor road bump.

The company quickly recovered, then resumed gaining ground. And it’s been propelled to new heights by a Deutsche Bank upgrade and analyst claims that Nio could be the “next iconic auto brand.”

Nio stock closed at $21.22 on Wednesday, another day of gains after

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Will China’s NIO Become the “Next Iconic Auto Brand?”

Shares of Chinese electric-vehicle maker NIO (NYSE:NIO) jumped on Tuesday after a key Wall Street analyst said that the company could become the “next iconic auto brand,” at least in China.

Is he right? Let’s take a look

Does NIO compare with Tesla in China?

Deutsche Bank analyst Edison Yu originally initiated coverage of NIO on Sept. 8 with a buy rating and a $24 price target. In a new note on Sept. 29, Yu wrote that investors had pushed back on his initial rating, saying that the company’s brand doesn’t draw the levels of excitement and loyalty that Tesla and the German luxury brands enjoy with Chinese consumers.

Yu acknowledged that there’s some truth to that. But, he said, NIO is still a new company, and he believes that perceptions of its brand are trending in the right direction. 

Yu said that there’s “compelling evidence” that growing numbers of

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Tesla competitor Nio can surge another 28% amid transformation into ‘next iconic auto brand,’ Deutsche Bank says



a blue car parked in a parking lot: Nio


© Nio
Nio

  • Deutsche Bank lifted its profit and sales forecasts for Chinese electric car manufacturer Nio on Tuesday, citing the company’s promising move into the premium autos sector.
  • In a note probing whether Nio can be “the next iconic auto brand,” analysts led by Edison Yu cited growing favorability in the expanding Chinese market.
  • One recent study found Nio boasts higher odds of customer referral in the country than Tesla, BMW, and Mercedes Benz.
  • Deutsche Bank reiterated its “buy” rating and $24 target price for Nio shares. The target implies a 28% leap from Monday’s closing level over the next 12 months.
  • Watch Nio trade live here. 

Nio may not have the intense following enjoyed by industry leader Tesla, but Deutsche Bank thinks the electric car manufacturer can quickly dominate the expanding Chinese market.

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In a Tuesday note delving into whether the company can become “the next

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Before Grand Theft Auto’s radio became iconic, it was a fight just to get it in the game

It’s hard to imagine the Grand Theft Auto series without its radio stations. The radio doesn’t just provide a steady stream of music while running a red light or crashing into the nearest postbox. It delivers a flavour of what the world is like without the player around, bombarding the listener with satirical advertisements and bizarre talk radio shows that are always seconds away from going off the rails. They’ve been a key part of Grand Theft Auto since the very first entry in 1997, but they almost didn’t make it into the game at all. In the beginning, GTA’s radio stations were actually the result of an audio team experimenting against their employers’ wishes.

I had this idea of creating almost like a mini-Motown Records here in Dundee

Colin Anderson

Colin Anderson is the person you have to thank for bringing radio to Grand Theft Auto. A member of

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