Why These 5 Stocks Are in the Spotlight on Monday

2. Nio Inc. (NYSE:NIO) has gained 2.38% as of 12:49 PM ET after the stock of the Chinese electric vehicle company was upgraded to a Buy rating with a price target of $26 by Ming Hsun Lee at Bank of America. The target price provides a potential upside of 81.69% from the last closing price. The analyst thinks that an increase in sales will improve margins during the second half of this year, and the negative developments related to Nio Inc. (NYSE:NIO) have already been factored in by investors. The analyst sees a strong model cycle and order backlog as key catalysts for Nio Inc. (NYSE:NIO). 

As of Q4 2021, Nio Inc. (NYSE:NIO) was held by 30 hedge funds.