Japanese investment bank Nomura has named the battery stocks it thinks are set to pop on rising electric vehicle adoption. The bank estimates that global EV penetration will reach 27.2% in 2030, up from 11.8% in 2022, driven by the "irreversible trend" for carbon neutrality. In a note from Jun. 22, Nomura's analysts, led by Cindy Park, said they expect demand for EV batteries to grow by 25% into 2025 — implying strong growth for battery and material stocks.
9% to the stock's closing price of around 537 Chinese yuan on Jun. 23. Nomura also likes South Korea's LG Energy as a beneficiary of increasing auto electrification around the world and rising EV battery demand. The bank expects the company to grow net profit by 61% per annum into 2024. The stock closed at 400,000 Korean won on Jun. 23, implying a potential upside of 61.3% to Nomura's price target of 645,000 Korean won. LG Chem — parent of LG Energy — also makes the bank's list.
Stock markets have crashed over 25% lately. Wonder how much EVs will crash over the next 5 years. EV Market is a minefield. Easy to get blown up.
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