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Why Nio Shares Popped Today
Shares of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) surged Thursday morning after an analyst report that included an increased price target and promising outlook. As of 10:45 a.m. EDT, Nio’s American depositary receipts (ADRs) were up 4.7% after having jumped more than 6% at their highs this morning. The pop comes as a Deutsche Bank analyst boosted the automaker’s price target by $10 to $70 per share.