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As EV stocks soar to crazy valuations, Wall Street sees value in these related names

Published Thu, Nov 18 20219:44 AM EST

Hannah Miao @hannahmiao_

For investors looking to get into the electric vehicle space, it may seem like they've already missed their chance with the eye-popping rallies in the related stocks. But Wall Street analysts have some favorite names that they believe still have room to run. Electric vehicle stocks are in focus after some startup names surged to sky-high valuations recently. EV maker Rivian debuted last Wednesday in one of the biggest IPOs of the year . The company has since surpassed the market value of traditional automakers Ford and General Motors . Lucid is another EV startup that saw its shares shoot up earlier this week. Some analysts and investors are skeptical about the dramatic moves in the EV sector. Morgan Stanley's Adam Jonas this week reiterated his underweight rating on Lucid . Gene Munster, a managing partner at Loup Ventures, said he was "uncomfortable" with Rivian's valuation . "Rivian and Lucid are too high," CNBC's Jim Cramer said in a tweet Wednesday, adding he does not "want to be part of the mob that takes these higher." To find the electric vehicle stocks analysts do see value in, CNBC Pro screened for names related to the EV space that at least 75% of analysts say to buy. We then found the stocks with a consensus upside of at least 10%. (Source: FactSet. As of Nov. 17, 2021.) Legacy automaker GM makes the list with 76% of analysts calling it a buy. Analysts on average see the stock gaining 15% from here. GM hit a fresh record high Wednesday as the company celebrated the opening of its first dedicated electric vehicle plant in Detroit. Chinese EV maker Nio appears on CNBC Pro's screen. Roughly 82% of analysts call the stock a buy, with a consensus upside of about 50%. British EV maker Arrival , Canadian EV maker Electrameccanica Vehicles , auto parts maker Dana and electric scooter company Niu Technologies all made the list of stocks well-liked on the Street.