10 Best Jim Cramer Stocks To Buy According to Analysts

3. NIO Inc. (NYSE:NIO)

Average Price Target Upside: 23.34%

Number of Hedge Fund Holders: 20

Jim Cramer was asked about NIO Inc. (NYSE:NIO) during a lightning round of Mad Money and he said, “I want you to hold on”.

NIO (NYSE:NIO) is involved in the design, development, manufacturing, and sale of intelligent electric vehicles in China, offering a diverse lineup that includes both five- and six-seater electric SUVs, as well as smart sedans. The company has experienced significant momentum in 2024, with a solid rise in deliveries and a stabilization of vehicle margins. Recent stimulus measures in China have the potential to further boost consumer interest, while the company is also making strides in expanding its presence in the European market.

In the third quarter, NIO (NYSE:NIO) achieved record-breaking deliveries, reaching a total of 61,855 vehicles, which marks an increase of 11.6% compared to the same period last year. As of September 30, 2024, cumulative deliveries reached 598,875 vehicles. Additionally, September alone saw 21,181 vehicles delivered, a remarkable 35.4% year-over-year increase. This total included 20,349 vehicles from its premium smart electric vehicle brand, alongside 832 vehicles from its family-oriented brand, ONVO.

The company has forecasted a significant improvement in vehicle margins, projecting them to reach 15% by the end of 2024. The introduction of ONVO as the company’s first mass-market brand is a pivotal step, with expectations that the L60 SUV will be particularly popular among consumers. It plans to continue this trajectory by launching a new model under the ONVO brand each year.