Morgan Stanley raised its outlook for China's electric vehicle market and is bullish on the performance of the country's electric vehicle trio.

The Wall Street bank's analyst Tim Hsiao raised his forecast for electric vehicle sales in China to 1.7 million units in 2021 from 1.5 million and raised its price target for Nio by 142% to $80 from $33. The bank kept its Overweight rating on the stock.

The bank also initiated coverage of Motors, giving it an Overweight rating.

Join us on or

Morgan Stanley also raised its price target on to $49 from $26.

Shares of all three companies fell this week until yesterday, when their sell off eased.

closed up 2.13 percent to $58.37 on Thursday, while Li Auto rose 2 percent to 32.21 and Xpeng gained 0.4 percent to 50.16.

Related posts on CnEVPost

Morgan Stanley raises Nio price target by 142% to $80-CnEVPost
Spy shots show model suspected to be facelifted Nio ET5 Touring on road test
Morgan Stanley raises Nio price target by 142% to $80-CnEVPost
Nio management reveals 2025 product roadmap in communication with Goldman Sachs
Morgan Stanley raises Nio price target by 142% to $80-CnEVPost
Nio exceeds 2,900 swap stations in China, with 1,000 available to Onvo
Morgan Stanley raises Nio price target by 142% to $80-CnEVPost
Nio sues multiple bloggers for spreading misinformation, insulting its brand and users