Investment banking leader Goldman Sachs is causing splashes in the electric vehicle industry today. Analysts released their list of six top EV stocks for investors to pay attention to this year.
Goldman Sachs is no stranger to the EV industry, and has been bullish on its players before. The firm picked EV manufacturers last December to watch, and it is expanding on its EV predictions this week. Plays range from vehicle manufacturers to EV parts and battery manufacturers.
With that in mind, let’s take a look at the six Goldman Sachs EV stocks you should be watching:
Goldman Sachs EV Stocks: TSLA Tops the List
- Tesla (NASDAQ:TSLA) is the sole EV stock from the last Goldman Sachs list to make it to this one. Obviously, Tesla stock has huge upside potential, as Elon Musk’s EV company is the industry leader. Goldman priced TSLA stock at $780 back in December, but analysts like Cathie Wood are setting targets as high as $3,000 by 2025.
- Volkswagen (OTCMKTS:VWAGY) is a notable brand on the list since it is coming to the EV industry as a combustion-engine vehicle manufacturer. Goldman Sachs labels Volkswagen as a buy because company’s existing production scale puts it at an advantage compared to other EV manufacturers. VW has at least six EV’s coming down the pipeline over the next year, and expects to put out 75 new models throughout the decade.
- Sanhua Intelligent Controls is the first entry on this list that is not yet available on U.S. exchanges. The Chinese company specializes in the production of heat ducting and air conditioning. Given its dominant share of the market overseas, it has been labelled a solid play by Goldman.
- Likewise, Samsung SDI is an overseas company that is not listed in the U.S. yet, but still got the GS cosign. The South Korean company gets a buy rating by Goldman Sachs because of its appeal as an EV battery manufacturer.
- Astra (OTCMKTS:PTAIF) is an EV manufacturer in Indonesia. Goldman Sachs lists it as a buy because it believes the company can corner the southeast Asian EV market.
- Rounding out the list of Goldman Sachs EV stocks is Allison Transmission (NYSE:ALSN). It slides onto the list as a “value play” due to its manufacturing of electric propulsion systems.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.