Morgan Stanley reiterates overweight rating on Nio after Chinese EV maker’s 90% rally in 60 days

Nomura sees shares of Nio rising 16% from here.

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The rally comes in large part after the company unveiled its latest ES8 SUV on Aug. 21.

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HSBC sees shares of Nio adding 23% from here.

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The chart analyst looks at the charts on Tesla and NIO.

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Shanghai-based Nio says proceeds to be used to enhance its development and replenish capital amid a price war.

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BYD's sales rebounded in August, while Nio, Leapmotor, and Xpeng achieved new delivery records.

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