June 25, 2022

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Wall Street analysts are bullish on stocks like Nio & Amazon

2 min read

Chinese electric vehicle start-up Nio Inc’s first employee Tianshu LI, and company’s leadership team celebrate at the New York Stock Exchange (NYSE) Opening Bell to commemorate the company’s initial public offering (IPO) at the NYSE in New York, September 12, 2018. 

Brendan McDermid | Reuters

Stocks ended the first quarter on a downbeat, but investors should keep an eye on their long-term objectives.

Inflation worries, the Federal Reserve’s rate hike, and the conflict between Russia and Ukraine have shaken markets in the first three months of 2022. However, keeping a long-term perspective remains the best way to keep calm and collected, especially when picking stocks.

Some of Wall Street’s most accurate pros have highlighted five stocks for the long term, according to TipRanks, which tracks the best-performing analysts. 

Here are the companies grabbing analysts’ attention this week.

Nio

Supply-side constraints and tightening economic activity in general have brought down high-growth and tech names, and for Nio (NIO), investors’ aversion toward China-based stocks has not benefited the company.  

The EV automaker has come down more than 30% year-to-date, although this only makes the stock more attractive, according to Vijay Rakesh of Mizuho Securities. He said that the near-term headwinds do not reflect the company’s fundamentals, nor its outlook.  

Rakesh rated NIO a buy, but he slightly lowered his price target to $60 from $65.

The analyst asserted that Nio is “positioned well for long-term growth with a focus on R&D, premium EV leadership, EV penetration accelerating in China, global expansion underway, and mass market launch potentially in 2022-23.” He expects the firm to ramp its production by the back half of the year.  

Nio is expected to grow its presence in the European market, expanding to Germany, Denmark, Sweden, and the Netherlands. Rakesh does not expect the company to relinquish its premium EV leadership position any time soon.  

Several factors have…



2022-04-03 09:36:00

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