NIO ES8 electric SUVs are seen displayed at the second media day for the Shanghai auto show in Shanghai
  • Tesla’s success in China is not a “winner takes all” situation, but instead a “rising tides lift all boats” phenomenon, according to JPMorgan.
  • That thinking led the bank to upgrade shares of Nio to “overweight” and assign a $40 price target on the stock, representing potential upside of 85% from Tuesday’s close. 
  • “In China’s smart EV market, we expect Nio to be a long term winner in the premium space among Chinese brands,” JPMorgan said.
  • Visit Business Insider’s homepage for more stories.

Nio surged 19% on Wednesday after it received an “overweight” upgrade and a $40 price target from JPMorgan, representing upside potential of 85% from Tuesday’s close.

JPMorgan acknowledged that it missed the massive 438% year-to-date rally in shares of Nio, given its previous neutral rating, but said it

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Garmin® International, Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), the world’s leading marine electronics manufacturer1, today announced that Manitou Pontoon Boats will install marine audio packages from Fusion® Entertainment, a Garmin Brand, as the standard-fit for select model year 2021 pontoon boats. Manitou exclusively offers the GarminECHOMAPUHD 73sv and GPSMAP® chartplotters for its entire lineup and will add a range of Fusion Entertainment stereos, speakers and amplifiers for the upcoming boating season.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200924005022/en/

Fusion Entertainment audio packages selected by Manitou Pontoon Boats as standard-fit for select model year 2021 boats, expanding onboard audio integration with Garmin marine electronics through the free Fusion-Link app. (Photo: Business Wire)


“It is clear to us that Manitou, along with other boatbuilders, are taking note of the lasting, high-quality marine audio Fusion can deliver

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