Garrett Motion (GTX) Stock Gets Buy Rating as Zero Emission Strategy Gains Traction

Garrett Motion Inc. (NASDAQ:GTX) ranks among the top NASDAQ stocks with low P/E ratios. On September 18, Stifel began coverage of Garrett Motion Inc. (NASDAQ:GTX) with a Buy rating and a $17.50 price target. The firm said that Garrett Motion Inc. (NASDAQ:GTX) aims to generate $1 billion in revenue from its Zero Emission portfolio by 2030, highlighting the company’s potential to deliver differentiated growth from this market.

Despite dwindling addressable markets, Stifel noted that Garrett’s legacy turbocharging division operates in well-structured areas that are expected to increase market share.

The firm anticipates that the turbocharging division will provide substantial free cash flow to support Garrett Motion’s expansion plans for zero emissions.

Garrett Motion Inc. (NASDAQ:GTX) is an auto components company that develops, produces, and distributes turbocharging, air and fluid compression, and high-speed electric motor technologies to original equipment manufacturers.

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