It is learned on November 21 from Zhitong Finance, Deutsche Bank analyst Edison Yu raised NIO’s target price from $20 to $21 and maintained a “buy” rating.

While another round of operational problems at Nio weighed on fourth-quarter sales and continued to frustrate investors, the analyst is optimistic that the worst may finally be over, Yu said. Yu said the focus for the market is Nio’s sales in December, as the company may need to deliver closer to 20,000 units to prove that its execution is indeed improving.