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Those 2 EV stocks have over 100% upside potential on the horizon, analyst says

You say politics is downstream of culture – but so are the stock markets. And sometimes culture affects our investment decisions in ways we could never have predicted just a decade ago. The electric vehicle sector is one such sector that is in the early stages of its launch. Electric vehicles are more than just the flagship on an environmentalist’s wish list. They are the show boats of the new automotive technology and promise several advantages over combustion technology: cleaner vehicles, higher performance and a revolution in battery technology that is sure to have an impact on the overall economy. With all of this in mind, it’s no wonder that Maxim Group’s 5-star analyst Tate Sullivan sees current conditions as an opportunity to buy into EV stocks. He notes that EV companies in his supply universe have implemented consistent expansion strategies well and have built both production capacities and sales networks. Sullivan is particularly bullish about two EV stocks, noting that each stock could rise over 100% in the coming year. Using TipRanks’ database, we took a long look at the data to find out what makes both so attractive. Beam Global (BEEM) Sullivan’s first to select Beam Global, a solar technology company focused on developing charging solutions for electric vehicles and drones. Beam’s flagship is the EV ARC (Autonomous Renewable Charger) for electric vehicles, a solar powered, standalone charging station that fits in standard parking spaces and is compatible with most electric vehicle models. The EV ARC works independently of the mains and thus increases flexibility during installation – and reliability. Beam prides itself on the fact that the EV ARC can be installed in minutes without a building permit. This is an advantage obtained directly from its independent, off-grid design. In addition, the chargers can be easily moved in case the customer needs to move. These features make the system attractive to fleet customers, and Beam lists over two dozen California municipalities and state government agencies on its customer list. Earlier this year, Beam announced it had 20 record shipments in the fourth quarter. In the quarter, 33 EV ARC systems were shipped and installed. That was more than any previous fourth quarter and more than the previous three quarters of 2020. Turning to Beam, Sullivan believes the company’s success in delivering shifts is sustainable. “The analyst added,” We continue to anticipate that BEEM shares anticipate large orders for the primary clean energy EV charging infrastructure product, EV ARC. While many other companies in the EV market are already developing products, factories and supply chains, BEEM has sales , Regular customers and a plan to significantly increase capacity. ”In line with its bullish approach, Sullivan rates BEEM as a buy with a target price of $ 90, which implies an upward trend of 124% from current levels. (To see Sullivan’s track record , click here.) See the consensus breakdown, 2 buys and 1 hold issued in the last three months n. Therefore, BEEM receives a consensus rating for a moderate purchase. Based on the average price target of $ 69.33, stocks could rise ~ 72% over the next year. (See BEEN stock analysis on TipRanks) GreenPower Motor (GP) From innovations in charging infrastructure, we will switch to real electric vehicles. GreenPower Motor is a manufacturer of commercial electric vehicles with a range of buses marketed to school districts and urban mass transit systems, as well as light-enabled vans transportation tasks.The company’s main product is the EV Star, a customizable electric drive cab and chassis that can be used in truck, Van or bus configurations can be converted. GreenPower also builds and markets full size transit buses with less convection and more convectional design. GreenPower is based in Vancouver, Canada and has a strong customer base in the state of California. The California government has mandated that all new vehicles sold in the state must be emission-free by 2035. This opens up a large market for companies like GreenPower. Its current customers include Sacramento Regional Transit, the Port of Oakland, and the University of California system. Sullivan notes that “GP has already announced plans to increase monthly production of electric school buses and shuttle vans ahead of larger orders” and expand its manufacturing facilities. The company said it had 95 vehicles “completed but not delivered” or in production as of the end of the fourth quarter and is seeing an increase in customer orders. Recent new customers include Zeem Solutions, an e-mobility logistics company that has ordered 30 EV Star vans, and Washington State’s Grant Transit Authority, which has ordered four EV Stars for wireless charging. In February, GP announced an agreement to supply up to 150 EV Star cab and chassis units to Forest River, Inc., a manufacturer of cut-off buses, RVs and trucks. Regarding the Forest River Agreement, Sullivan wrote, “We believe this order will help GP secure orders from other EV customers. In addition to announcing this contract, GP expects current monthly production of EV Star and electric school buses to result in annual sales of $ 75 million. “To that end, the Maxim analyst has put a buy on the stock and his target price of $ 45 shows room for 125% growth over the next 12 months. After the collapse of the consensus, opinions are far from mixed. With 3 purchases and no holds or sells in the past three months, the word on the street is that GP is a strong buy. At USD 41, the average price target implies an upside of 116%. (See GP stock analysis on TipRanks.) To find great ideas for trading EV stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of the insights into TipRanks’ stocks. Disclaimer: The opinions expressed in this article are solely those of the presented analyst. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.