UBS: There's about to be 'an inflection point' in the electric car market, and these 7 stocks could win big (TSLA)

pulse

June 2, 2017 6:31 PM

Tesla is the first to come to mind when it comes to electric cars, but it didn't make this list.

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Tesla is often the first company that comes to mind when thinking of electric cars. But, there are a lot of other players set to profit from the growing electric car market.

In a note to investors, UBS breaks down the seven companies set to soar as electric cars grow in popularity. The financial services company said the electric car industry is at an "inflection point" as the cost of ownership for electric cars reaches parity with tradition, internal combustion engines in 2018.

General Motors just released its 2017 Chevy Bolt, an affordable electric car marketed to the masses. The Bolt beat Tesla's Model 3 to market, as the electric car company plans to start shipping its affordable sedan later this year or early next.

GM is just one example of a company primed for launch. Read below to find out who else UBS analysts think are good bets, including a target price and an expected P/E multiple for each company.

Maxim Integrated Products (MXIM)

Sector: Semis

Current Price: $48.34

Target Price: $48.00

Expected 2018 P/E: 20x

Albemarle (ALB)

Sector: Chemicals

Current Price: $113.44

Target Price: $112.00

Expected 2018 P/E: 22x

Lear Corporation (LEA)

Sector: Auto Supplies