5 Stocks That Could 10X Over the Next 5 Years

4. Lemonade Inc. (NYSE:LMND)

Lemonade Inc. (NYSE:LMND) ranks among the stocks that could 10x over the next 5 years. On March 17, Morgan Stanley upgraded Lemonade Inc. (NYSE:LMND) to Overweight from Equalweight and increased its price target to $85 from $80. The adjustment comes after Lemonade partnered with Tesla to provide auto insurance. Morgan Stanley stated that the partnership gives Lemonade a competitive edge in data analysis and operational experience.

Morgan Stanley sees Lemonade Inc. (NYSE:LMND) expanding its autonomous vehicle insurance coverage substantially as the auto sector shifts toward automation. The firm stated that this expansion might allow Lemonade Inc. (NYSE:LMND) to boost its business tenfold, mostly through Lemonade Car. The extent of this increase should offer a solid foundation to significantly boost Lemonade’s long-term earnings potential.

Additionally, on February 24, Keefe, Bruyette & Woods boosted Lemonade’s price objective to $44 from $40 while retaining an Underperform rating on the company’s shares. The firm reported faster premium growth and reduced loss ratios, though these were largely offset by increasing operating expenses.

Lemonade Inc. (NYSE:LMND) provides various insurance products in the US, Europe, and the UK. The company offers renters & homeowners, building, car, pet, and life insurance products, as well as landlord insurance products.