5 Most Promising Car Stocks According to Analysts

4. NIO Inc. (NYSE:NIO)

Average Analyst Price Target Upside: 42.36%

Average Analyst Price Target: $18.70 

NIO Inc. (NYSE:NIO) is a Chinese company that designs, manufactures, and sells smart electric vehicles, powertrains, and batteries, as well as provides battery-swapping technologies and autonomous driving technologies.

On December 5, NIO Inc. (NYSE:NIO) released its Q3 earnings result with a non-GAAP EPADS of -$0.31, topping the estimates by $0.05. The revenue grew 46.6% year-over-year (YoY) to $2.61 billion.

On December 6, Reuters reported that NIO Inc. (NYSE:NIO) is planning to spin off its battery manufacturing unit, which could take place as early as the end of the current year. According to sources, the move is to increase the company’s profitability through cost reduction and efficiency improvement.

On December 10, Deutsche Bank maintained a Buy rating on NIO Inc. (NYSE:NIO)’s stock with a $10 price target. The firm mentioned that the company needs to look into its cost structure and right-sizing it.