Billionaire Leon Cooperman’s 8 Stock Picks with Huge Upside Potential

3. Lithia Motors, Inc. (NYSE:LAD)

Omega Advisors’ Q1 Stake: $93.2 million

Analyst Upside as of June 15: 13.38%

Number of Hedge Fund Holders: 54

Lithia Motors, Inc. (NYSE:LAD) is one of billionaire Leon Cooperman’s top stock picks with huge upside potential. Intending to increase shop density and luxury mix, Lithia Motors, Inc. (NYSE:LAD) has increased its footprint in the Southeast region on June 12 by acquiring two Mercedes-Benz stores in Jackson, MS, and Collierville, TN. This marks the first Mercedes-Benz presence by LAD in the area, which is anticipated to generate $220 million in annual sales.

Furthermore, on June 3, analysts at Goldman Sachs assumed coverage of Lithia Motors, Inc. (NYSE:LAD) with a Neutral rating and a $340 price target. One important consideration in the analysts’ judgment was the degree of uncertainty around near-term demand. Since there are a variety of potential outcomes, both positive and negative, the analysts concluded that Lithia Motors’ current risk/reward profile is balanced. They estimated that up to 12 million automobiles might have been undersold over the previous five years, pointing to the possibility of rising demand.

Lithia Motors, Inc. (NYSE:LAD) is a major automotive retailer that sells vehicles and offers associated services, such as repair, through a wide network of dealerships and online platforms.