NIO Inc. Price Target Raised To $75 From $50 At JPMorgan

JPMorgan analyst Nick Lai raised the firm's price target on NIO Inc. (NIO) to $75 from $50 and keeps an Overweight rating on the shares.

The company's annual showcase for the next new model and technology advancements revealed four strategic milestones, which drives the target increase, Lai tells investors in a research note.

These include an in-house autonomous driving solution on Nvidia (NVDA) architecture, a solid-state battery for the next new model, ET7 sedan, the beginning of content monetization, and the commercialization of LiDar, says the analyst. He believes Nio will continue to trade more like a "fast-growth" technology/electric vehicle stock than a carmaker.

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