What should Nio (NYSE:NIO) stock be priced at? Bank of America has a $6 price target on the Chinese electric vehicle (EV) company, which it raised from$5.90.The price target change came after Nio reported its first-quarter earnings on May 6, revealing a 7.2% year-over-year revenue decline to $1.37 billion. BofA analyst Ming Hsun Lee noted that the decline was attributed to a lower average sales price (ASP). He rationalized that Nio wants to get rid of its 2023 models in preparation for new models.Revenue i ...