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Fly News Breaks for December 3, 2019
NIO
Dec 3, 2019 | 06:20 EDT
Piper Jaffray analyst Alexander Potter initiated coverage of NIO Inc. with a Neutral rating and $2.20 price target. With a "bloated" cost structure and a "floundering macro backdrop," NIO will need to cut costs and raise capital, probably in excess of $1B, in order to keep selling its electric SUVs, Potter tells investors in a research note.
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