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Shares of Nio Inc. bounced 2.7% in premarket trading Wednesday, after J.P. Morgan analyst Nick Lai raised his stock price target to $14 from $11, saying he believes new-energy vehicle (NEV) demand in China could accelerate. Meanwhile, Lai kept his rating at neutral, saying he believed valuations were “stretched.” Nio reported early Tuesday a narrower-than-expected second-quarter loss and revenue that rose more than forecast. The stock had soared as much as 12% before Tuesday’s open, b…

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