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.

While we acknowledge the potential of GTX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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