EV adaptability to decide winner: 5 auto ancillary stocks with upside potential of up to 24%
Few weeks back an auto ancillary major announced the opening of two plants for Electric Vehicle space only. Probably this is just the beginning, more auto ancillary companies, some of which have been readjusting their business model toward EV space, would be announcing it sooner than later. We take a look at companies where analysts are projecting further upside in the next 12 months. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.
One sector which has been quietly going through a transformation is the auto ancillary space. Some companies have been changing their business model to stay relevant in the EV space. This transformation was hit by many headwinds in the last three years, right from rising input costs and supply chain disruption. A number of these headwinds have settled down. Lower raw material prices and renegotiated contracts with OEM are some of the tailwinds
8 mins read
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