Nio Inc (NYSE: NIO) shares are likely to bounce from the recent fall, TipRanks.com reported on Sunday, citing Mizuho Securities analyst Vijay Rakesh.

What Happened: Mizuho analyst has maintained a “buy” rating on Nio and kept the price target of $60 on the stock. 

Nio shares closed 1.4% lower at $16.4 on Friday and are down 51% year-to-date.

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