Nio (NYSE:NIO) stock fell Friday after Citi analysts cut their price target on the Chinese electric vehicle (EV) maker by 20% to $8.50 per share from $10.40. However, they maintained their “buy” rating.Today’s slashed price target comes despite relatively strong year-to-date vehicle sales from Nio, alongside the recent inaugural releases of its new Onvo and Firefly models. Indeed, Citi analysts even projected a higher sales volume for 2024 of 227,000 units from 190,000.Unfortunately, Citi lowered its gross ...