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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: bull_dozer who wrote (84420)	2/23/2024 3:19:11 PM
From: bull_dozer	3 Recommendations Recommended By ajtj99 Sun Tzu towerdog Respond to of 96672

>> JP Morgan downgraded #Nio then increased position by 83% to 4.3 million shares. One more downgrade...<G> In a note focusing on the Chinese auto industry, JPMorgan analysts downgrade NIO to Underweight from Neutral on Friday, noting the low earnings visibility across the sector. The bank explained that it sees downside to consensus volume/revenue estimates, while it noted that the lack of new models relative to peers may further weigh on its stock performance. JPMorgan also highlighted that competition in the mass market may only intensify, "especially considering the number of new launches from peers such as XPeng (NYSE:XPEV), BYD (SZ:002594), Geely (OTC:GELYY) (Galaxy and Zeekr brands) and Great Wall." Nio stock forecast Looking ahead, JPMorgan sees NIO shares hitting $5 per share after cutting the price target from $8.50 in the note. investing.com