Nio price target raised to $7 from $6 at Mizuho

Mizuho analyst Vijay Rakesh raised the firm’s price target on Nio (NIO) to $7 from $6 and keeps a Neutral rating on the shares. The firm increased estimates in the autos space, saying U.S. tariffs should have a minimal impact on new vehicle prices. In addition, August U.S. electric vehicle sales were up 17% year-over-year as consumers look to cash in before the Inflation Reduction Act credits end, the analyst tells investors in a research note.