Nio Inc. shares jumped more than 6% in morning trading after Goldman Sachs upgraded the electric vehicle maker to buy from neutral. Goldman set a new 12-month price target of $7.00 for Nio’s American depositary receipts, citing a valuation gap despite strengthening fundamentals. The firm highlighted the potential for rapid volume growth and a strong profit turnaround through the end of 2026.
Nio shares were trading near their 52-week low. Third-quarter deliveries rose 25.4% year over year, which Goldman cited as evidence of operational momentum.
Nio recently said its charging network had surpassed 100 million charging sessions. Most of those services went to non-Nio users.