Investment bank Nomura says some of the global stocks offer investors 'resilience in volatile times.'
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.
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