Macquarie analyst Erica Chen launched coverage of three U.S.-listed Chinese electric vehicle makers: NIO, XPeng, and Li Auto, saying investors should buy the stocks.
Investors appear to be listening. All three stocks were higher Wednesday, though other EV stocks gained ground, too. NIO (ticker: NIO), XPeng (XPEV) and Li (LI) shares were up 2.7%, 3.6%, and 2.2%, respectively, in early trading. Tesla (TSLA) and Rivian Automotive (RIVN) shares gained 1% and 1.5%.
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