NIO Stock Price Could Pass $50 According To Citi Analyst

Nio (NIO) could run well above $50 a share again. For one, EV sales like those from NIO show no sign of slowing. The U.S. just pledged to reduce emissions by up to 52% over the next several years.

NIO chart 06/02

Europe wants to cut CO2 emissions by up to 55% by 2030. China says it’ll stop releasing CO2 in the next 40 years. In doing so, global leaders want millions of electric vehicles on the roads.

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Also, NIO just sold another 6,711 vehicles in May 2021 – up 95% year over year, which lead Citi (C) analysts to upgrade the stock to a buy rating with a price target of $58.30. “Based on the current production and delivery plan, the company will be able to accelerate the delivery in June to make up for the delays from May,” said Citi, as quoted by Investing.com.

FEYE chart 06/02

Cybersecurity stocks, like FireEye (FEYE) were higher after the world’s largest meat supplier, JBS USA was attacked, according to USA Today.

The one-two punch of the recent cyberattacks “shows that nothing is safe,” said former senior Department of Homeland Security official Paul Rosenzweig, as quoted by USA Today. “Not the meatpacking industry, not the chemical industry, not the wastewater treatment industry, not Sony. Nothing. And the only way to be safe in this world is to unplug completely. And you can’t do that and be economically competitive.”

BYND chart 06/02

Beyond Meat (BYND) had an impressive week after Bernstein analyst Alexia Howard just boosted her rating on BYND to an outperform rating, with a price target of $130. “Consumer demand for meat alternatives overall have held up well on a two-year basis, and Beyond Meat itself is telling investors to expect a recovery in organic growth in the second quarter, despite difficult year-over-year comparisons. Its restaurant sales should get a boost from people returning to dining out,” as noted by Barron’s.

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Tyson Foods (TSN) is still running on a chicken supply shortage. With high demand for chicken, poultry is becoming scarce and expensive, some, some restaurants are limiting chicken products. As reported by USA Today, “The poultry industry is tamping down growing alarm over a chicken shortage with National Chicken Council spokesman Tom Super saying there was a “very tight supply but short of a shortage.”

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