Chinese electric vehicle manufacturer Nio (NYSE:NIO) saw its shares swing higher on Tuesday despite poor news. Earlier, Bank of America analysts reduced their price target of NIO stock to $5.90 from $6.50. The banking giant’s research arm maintains a skeptical “neutral” rating on the electric vehicle (EV) maker.Specifically, BofA Securities analyst Ming Hsun Lee remarked that the research team sees “stronger-than-expected sales for NIO in 2Q24, given 1) the company witnessed decent orders in April-May 2024 ...