NIO Inc.’s (NYSE:NIO) consensus price objective is 32.51. This consensus price objective was compiled by 28 analysts who provided 12-month price projections. The high estimates for 84.18 were very high, and the low estimates for 23.42.

While news about Nio has been negative lately, the deal tried to instill some optimism this morning through some positive PR. According to Nio, today’s 200,000 car was built in Hefei. Although it took nearly four years to reach the 200,000-unit mark, Nio said the company produced 100,000 vehicles last year to show its increased efficiency in recent years.

The market opened with shares trading at $17.42 (+6.14%). Investor enthusiasm for equities in this market opening is positive. But there are still concerns on the part of investors that the ongoing lockdowns in China weighed more heavily on their minds, leading to a decrease in inequalities.

On the other side, it is overlooked that the company achieved this feat. Investors are concerned about China’s tendency to impose stricter restrictions to prevent the spread of COVID-19. Reuters reports that all 22 million people in Beijing lined up to have their blood tested as a precaution against Ebola. As a result, there are concerns about lockdowns, which could disrupt supply chains and close businesses, slowing down production.

The concern about disruptions in supply chains and closures of industries due to an increase in COVID-19-related cases in China is unlikely to end soon. That is despite China’s active efforts to contain the spread of the virus.

The post This is why analysts target again NIO stock appeared first on Best Stocks.