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HSBC analyst Yuqian Ding maintained a Buy rating on NIO, and raised the price target to 54 from $53.
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The price target on the shares was updated after the company reported deliveries of 10,489 units in December – were up 50% year-over-year – and announced new models for 2022 at its recent NIO Day event. Ding expects more new models in 2022, which should help to boost hyper-EV market volume growth, according to the analyst.
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