Looking To Benefit From EV Boom? Citi's 4 Battery Stock Picks Include One With Nearly 40% Upside
Portfolio Pulse from Benzinga Neuro
Citi Bank predicts a surge in EV battery demand and has revealed its top four stock picks, which include Contemporary Amperex Technology Co (CATL), LG Energy Solution, Panasonic (OTC:PCRFY), and Albemarle (NYSE:ALB). The bank believes the U.S. Inflation Reduction Act could significantly boost EV penetration in the U.S., despite restrictions on critical minerals and components. EV battery demand is projected to rise 22% YoY in 2023, with demand set to accelerate again in 2024 and 2025.
August 04, 2023 | 11:16 am
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POSITIVE IMPACT
Albemarle is one of Citi Bank's top stock picks for benefiting from the predicted surge in EV battery demand.
Citi Bank's prediction of a surge in EV battery demand and its inclusion of Albemarle as a top stock pick suggests a positive outlook for the company. This could potentially lead to an increase in the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Panasonic is one of Citi Bank's top stock picks for benefiting from the predicted surge in EV battery demand.
Citi Bank's prediction of a surge in EV battery demand and its inclusion of Panasonic as a top stock pick suggests a positive outlook for the company. This could potentially lead to an increase in the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80