Goldman Sachs gives one battery stock potential upside of over 100%, as investors reassess the autos sector.
Shares of legacy automakers and parts manufacturers will attract new investors as they transition toward electric vehicles and green technologies, according to Goldman Sachs. Environmental, social and governance funds have thus far mostly shunned such companies in favor of new electric automakers, according to Goldman — but it's a trend the Wall Street bank expects to reverse this year.
The company has previously announced plans to expand into the United States to take advantage of the benefits of the IRA. As a result, the bank expects the company's stock to rise by 116% to $19 over the next 12 months. Also among Goldman's picks are Lear Corp and Visteon . The two companies manufacture electrical products such as "infotainment" systems for vehicles of all types.
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