Wall Street Maintains a Positive Opinion on ​Garrett Motion Inc. (GTX)

​Garrett Motion Inc. (NASDAQ:GTX) is one of the Best Performing Affordable Stocks Under $40. Garrett Motion Inc. (NASDAQ:GTX) is trading close to its 52-week high of $18.74. Wall Street maintains a positive opinion on the stock, with analysts’ 12-month price target reflecting 12.5% upside from the current levels.

​Recently, on December 17, JPMorgan initiated the stock with an Overweight rating and a $23 price target. Earlier on December 12, BWS Financial also maintained a Buy rating on the stock and raised the price target from $18 to $22.

JPMorgan noted that the bullish sentiment is based on the fewer headwinds for Garrett Motion Inc.’s (NASDAQ:GTX) internal combustion engines and expected tailwinds for zero-emission vehicles. The firm noted that they expect battery electric vehicles to grow more slowly than previously anticipated, which reduces the challenges for GTX’s ICE business.

​Similarly, BWS Financial also believes that ICE’s will remain relevant beyond 2035 due to their long lifespan as compared to battery electric vehicles. The firm highlighted that, as a result, the company’s near-term development and partnerships for ICE are likely to remain unchanged. Moreover, the company is also expanding into zero-emission vehicles, which also reaffirms the company’s long-term investment case.

Garrett Motion Inc. (NASDAQ:GTX) is a Switzerland-based automotive technology company. It specializes in turbocharging and electric boosting technology for vehicles.

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Disclosure: None. This article is originally published at Insider Monkey.