10 Best Electric Vehicle Supply Chain Stocks to Buy Right Now

5. Aptiv PLC (NYSE:APTV)

 Number of Hedge Fund Holders: 40

Market Cap: $17.46 billion

Aptiv PLC (NYSE:APTV) is one of the best electric vehicle supply chain stocks to buy right now. On September 3, Baird analyst Luke Junk maintained his Outperform rating on Aptiv PLC (NYSE:APTV), while increasing his 12-month price target from $84 to $97. That is an implied upside of 20.91% based on the market price of $80.22 on September 5.

Junk said that he adjusted his price targets in the vehicle technology and mobility group to reflect a positive stance on cyclical names. The analyst is increasingly bullish on the group, citing “less bad” auto trends, sector rotation potential, and “undemanding” valuations.

Aptiv, which provides electrical architecture and software systems that enable EVs to function efficiently, is trading at a forward P/E of 17.14x, which is reasonable as analysts expect revenue to grow by an average of 8.87% on a compounded annual basis over the next 5 years.

At the recent J.P. Morgan Auto Conference, Aptiv said that it is focused on reducing dependency on certain markets. Additionally, the company is working on improving real-time visibility and control.