Chinese electric vehicle Nio (9866.HK) jumped over 12% at one point to reach HK$46.8, after its US-traded shares jumped over 10% to close at $5.81, equivalent to HK$45.85 per share in Hong Kong.
Macquarie upgraded NIO’s rating from "Neutral" to "Buy" while lowering its target price from HK$64 to HK$52. For NIO's ADR, the target price was raised from $5 to $6.6.
Macquarie expects NIO to provide better-than-expected guidance during its third-quarter earnings report and made slight adjustments to its . . .
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