NIO Inc (NYSE:NIO) Receives $100 Price Target

Forget about TSLA and NKLA, NIO Inc (NYSE:NIO) might hit $100 price target and here’s why

Insider Financial has been covering NIO since shares were just $6. Even after almost 500% gains, Insider Financial remains bullish.

Read the FULL REPORT HERE

Look at Insider Financial’s history on NIO.

Insider Financial recommended NIO over Nikola Corp (NASDAQ:NKLA).

When Goldman Sachs said to sell NIO, Insider Financial said the smart play was to ignore Goldman Sachs and buy NIO. In August, after NIO sold off after earnings, Insider Financial said to buy the dip in NIO. NIO is destined to become the Tesla Inc (NASDAQ:TSLA) of China. Buying NIO today is the same as buying Tesla a few years ago. Look at how NIO deliveries have climbed. In October, NIO delivered 5,055 vehicles, +100.1% Y/Y. The deliveries consisted of 2,695 ES6s, 1,477 ES8s, and 883 EC6s.

Year-to-date deliveries reached 31,430 units, an increase of 111.4% over the prior year. As of October 31, cumulative deliveries of the ES8, ES6, and EC6 were 63,343 vehicles. By the end of next year, CEO William Li said that the company should be able to manufacture 150,000 per year. NIO is set to deliver three to five times more vehicles next year.

China is set to mandate 25% of car sales must be EV in China, which is the largest car market in the world. That would be 25% out of 26 million or 6 million EV per year in China. In China, NIO is the preferred option because of its battery-swap technology. NIO buyers are eligible for subsidies from the Chinese government whereas Tesla is not. Furthermore, in China, local brands are generally more preferred by the average consumer.

With a current market cap of $50 billion, we could easily see NIO have a market cap north of $100 billion, especially when you look at Tesla’s $425 billion market cap. NIO continues to hit new highs as it moves towards the $100 target.

To read the full report and why NIO looks set to keep climbing, visit https://insiderfinancial.com/why-nio-stock-will-hit-100-in-2021/180578/

source https://wiredrelease.com/press-release/nio-inc-nysenio-receives-100-price-target-2020-11-07