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Fly News Breaks for March 2, 2020
NIO
Mar 2, 2020 | 06:52 EDT
Citi analyst Jeff Chung downgraded NIO Inc. to Neutral from Buy with a $4.30 price target. The company's deal will the government of Hefei will require Nio to spend on a headquarters move, which may put the company under more pressure in case of prolonged sales weakness, Chung tells investors in a research note. The analyst remains cautious on Nio's near-term outlook.