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There is no denying that Chinese electric vehicle maker Nio has already come far. Shares started 2020 below $5 and now trade for nearly $60. The company has blown past concerns it would run out of cash, emerging as an innovative and fast-growing EV leader.
So where does the company go next? As one of the top stocks to buy for 2021, many analysts are starting to raise their price targets. JPMorgan analyst Nick Lai just raised his price target to $75, while Credit Suisse analyst Bin Wang raised his to $71. However,
InvestorPlace analyst Luke Lango sees much more upside ahead for NIO stock, even to $150. That’s because the company continues to deliver on its promises and chart a growth-filled course.