Citi ups Niu Technologies target, opens ‘downside catalyst watch’

Citi raised the firm’s price target on Niu Technologies (NIU) to $2 from $1.90 and keeps a Neutral rating on the shares. Niu reported worse than expected Q3 earnings, the analyst tells investors in a research note. The firm opened a “90-day downside catalyst watch” on the shares as it expects headwinds from product mix deterioration, margin pressure, impact from the U.S. tariff hike will persist in Q4. This could mean that Niu’s earnings would likely miss market expectations, the analyst tells investors in a research note.