10 Best Battery Stocks To Buy According To Analysts

8. Tesla Inc. (NASDAQ:TSLA)

Analysts Upside Potential as of March 10: 32.01%

Number of Hedge Fund Holders In Q4 2024: 126

When you talk about EVs in North America and most of Europe, you won’t fail to mention Tesla Inc. (NASDAQ:TSLA). This company may have lost some ground to others, especially in Europe and China, but it remains the one that mainstreamed EVs. The company started as a purely EV carmaker but has now diversified into energy storage and AI-driven technology.

Tesla Inc. (NASDAQ:TSLA) has been experiencing rough patches in recent years. Like QuantumScape Corp. (NYSE:QS), it did not generate any revenue in its formative years (for five years). The first instance was in 2008 when it launched its first vehicle, the Roadster. In the full year 2024, the company’s revenue reached $97.7 billion. However, that happened in the face of declining vehicle deliveries. Deliveries went down by 1% to 1.79 million units in 2024.

But different things are happening to Tesla Inc.’s (NASDAQ:TSLA) battery sector. According to the latest data, the company’s energy storage deployments reached record levels. In Q4, 11.0 GWh was deployed, and 31.4 GWh for the full year 2024, an 114% year-over-year growth. Energy generation and storage revenue more than doubled year-over-year to reach $3.1 billion in the fourth quarter.

The company continues to advance its battery technology and manufacturing capabilities. Tesla’s Lithium Refinery is now processing spodumene, with full commissioning expected this year. This will provide the company with vertical integration advantages in the battery supply chain. This explains why, despite the fact that Tesla Inc.’s (NASDAQ:TSLA) shares are down 34.96% year to date, analysts believe there is a 32.01% upside, and 126 hedge funds have the stock in their portfolio.