12 Best S&P 500 Stocks With Huge Upside Potential

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3. LKQ Corporation (NASDAQ:LKQ)

Number of Hedge Fund Holders: 33

Average Upside Potential as of June 24: 39.44%

LKQ Corporation (NASDAQ:LKQ) is one of the best S&P 500 stocks with huge upside potential. Towards the end of May, LKQ Corporation released its 2024 Sustainability Report, which was titled “Doing Our Part For a More Sustainable World.” The report emphasized LKQ’s commitment to profitable growth through efficient, responsible, and ethical business practices.

The report details LKQ’s 3-pillar strategy: profitably delivering sustainable solutions, people-led performance, and strong governance & ethical practices. The company’s foundation in the circular economy involves reimagining how the vehicle industry can operate responsibly while delivering profitable growth, serving as the “north star” for its “Charting Our Future” strategy, which was announced in September 2024.

In 2024, the company processed 735,000 vehicles and successfully sold ~12 million individual salvaged parts back into the circular economy. Furthermore, LKQ reduced its Scope 1 and Scope 2 greenhouse gas emissions across its global operations by 16% relative to revenue, compared to a 2022 baseline. The reduction was achieved through increased use of renewable energy, fleet fuel initiatives, energy efficiency upgrades, network optimization, and business integration projects.

LKQ Corporation (NASDAQ:LKQ) distributes replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories.

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