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Why NIO Stock Is Charging Higher Today A bullish upgrade ahead of earnings has investors jumping in. What happened American depositary shares of Chinese electric-vehicle maker  NIO  ( NYSE:NIO )  are rising today, up 14.9% as of 9:45 a.m. EDT, after a J.P. Morgan analyst upgraded the stock in a bullish note.   So what In a note released before the U.S. markets opened on Wednesday, analyst Nick Lai upgraded NIO to overweight from neutral, with a price target of $40, up from $14. Lai wrote that the share of China's light-vehicle market held by "new energy vehicles" -- China's catch-all term for hybrids, fuel cell vehicles, and battery-electrics -- is accelerating and will quadruple by 2025. Lai sees that as a rising tide, driven to some extent by  Tesla 's recent emphasis on the Chinese market, that will lift many boats, including (and perhaps especially) NIO's. NIO began deliveries of its latest model, the sporty EC6, in September. Image source: NIO. Specifical