11 Hot EV Stocks to Buy Now

5. Blue Bird Corporation (NASDAQ:BLBD)

Year-to-date Share Price Returns: 83.01%

Number of Hedge Fund Holders: 24

Blue Bird Corporation (NASDAQ:BLBD) is an American company that manufactures school buses. The company has established itself as a frontrunner in producing low and zero-emission buses Its product range includes traditional school buses, pupil activity buses, and specialized vehicles like mobile libraries and police command centers. It is among our hot EV stocks to buy now.

The company’s Vision Electric school buses carry up to 77 passengers and have a range of 130 miles on a single charge. According to the company, it has a gross vehicle weight rating (GVWR) of 33,000 lbs. The All-American RE Electric has a GVWR of up to 36,000 lbs, carries 84 passengers, and has a range of 120 miles.

Blue Bird (NASDAQ:BLBD) has a favorable rating among analysts as it has been covered by 7 analysts with an average price target of $66, and all have a Buy equivalent rating on the stock. Their average price target represents an over 36% upside to the company’s stock, as of September 30.

On September 10, TipRanks reported that Needham analyst Chris Pierce reiterated a Buy rating on the company stock with a price target of $72. The analyst believes that the stock is undervalued and highlighted the company’s resilience in a politically stable sector and its potential for recovery in sales volume. He also noted that the market has not fully acknowledged the company’s opportunities in the EV market.

Pierce’s price target reflects a valuation of 12.5 times the anticipated adjusted EBITDA for fiscal year 2025 and suggests that as margins improve, investors will recognize the stock’s value.