Lates News

Nio's stock price rose more than 10% in Hong Kong on Wednesday, with Morgan Stanley upgrading Nio's American depositary receipt (ADR) rating from "neutral" to "overweight." Nio ADRs rose 10% on Tuesday. Nio will release its financial report on September 2. "The financial report itself may not bring too many surprises, but we expect earnings expectations to be raised, especially as the company's losses are expected to narrow quickly," analysts including Nick Lai wrote in a report. The institution has raised the target price for Nio's ADRs from $4.8 to $8.