Hollis JohnsonTesla 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)
Sector: Semis
Current Price: $48.34
Target Price: $48.00
Expected 2018 P/E: 20x
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Albemarle (ALB)
Sector: Chemicals
Current Price: $113.44
Target Price: $112.00
Expected 2018 P/E: 22x
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Lear Corporation (LEA)
Sector: Auto Supplies
Current Price: $150.92
Target Price: $158.00
Expected 2018 P/E: 9x
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Texas Instruments (TXN)
Sector: Semis
Current Price: $81.16
Target Price: $91.00
Expected 2018 P/E: 20x
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Delphi Automotive (DLPH)
Sector: Auto Suppliers
Current Price: $88.96
Target Price: $97.00
Expected 2018 P/E: 11x
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Analog Devices (ADI)
Sector: Semis
Current Price: $81.43
Target Price: $94.00
Expected 2018 P/E: 21x
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General Motors (GM)
Sector: Automotive OEMs
Current Price: $34.13
Target Price: $39.00
Expected 2018 P/E: 5x
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Get the latest Tesla stock pricehere.
Tesla is often the first company that comes to…
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