Hollis Johnson
Tesla is often the first company that comes to mind when thinking of electric cars. But, there are a lot of other players set to profit from the growing electric car market.
In a note to investors, UBS breaks down the seven companies set to soar as electric cars grow in popularity. The financial services company said the electric car industry is at an “inflection point” as the cost of ownership for electric cars reaches parity with tradition, internal combustion engines in 2018.
General Motors just released its 2017 Chevy Bolt, an affordable electric car marketed to the masses. The Bolt beat Tesla’s Model 3 to market, as the electric car company plans to start shipping its affordable sedan later this year or early next.
GM is just one example of a company primed for launch. Read below to find out who else UBS analysts think are good bets, including a target price and an expected P/E multiple for each company.
Maxim Integrated Products (MXIM)
Markets Insider
Sector: Semis
Current Price: $ 48.34
Target Price: $ 48.00
Expected 2018 P/E: 20x
Click here for a live chart.
Albemarle (ALB)
Markets Insider
Sector: Chemicals
Current Price: $ 113.44
Target Price: $ 112.00
Expected 2018 P/E: 22x
Click here for a live chart…
Lear Corporation (LEA)
Markets Insider
Sector: Auto Supplies
Current Price: $ 150.92
Target Price: $ 158.00
Expected 2018 P/E: 9x
Click here for a live chart…
See the rest of the story at Business Insider
