Morgan Stanley is standing by its bullish stance on Nio , even after the Chinese electric carmaker's massive rally over the past two months. Shares of Nio have surged in recent weeks and rallied further after the company unveiled its ES8 SUV on Aug. 21. The model, which clocks in at 308,800 yuan, or $43,000, under a battery subscription plan, is much more affordable than Nio's premium SUVs, which typically come in between 338,000 yuan and 768,000 yuan. Deliveries for the new vehicle will begin in late September. NIO YTD mountain NIO YTD chart But despite Nio's surge, Morgan Stanley analyst Tim Hsiao stuck by his overweight rating on the stock. The analyst's price target of $6.50 per share is less than 3% above the stock's Friday close. "NIO's share price has risen 90%+ from the trough in J

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