Billionaire Gabelli’s 5 Stock Picks with Huge Upside Potential

1. Hyster-Yale Materials Handling, Inc. (NYSE:HY)

GAMCO Investors’ Stake Value: $46,070,755

Upside Potential as of November 28: 66.32%

With a history that dates back to 1989, Hyster-Yale Materials Handling, Inc. (NYSE:HY) designs, engineers, manufactures, sells, and services lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names.

On October 31, Hyster-Yale Materials Handling, Inc. (NYSE:HY) released its financial results for Q3 2023. It generated a revenue of $1.0 billion and an EPS of $2.06, surpassing consensus estimates on both figures by $69 million and $1.56, respectively.

On November 15, Northland Capital Markets analyst Ted Jackson initiated coverage of Hyster-Yale Materials Handling, Inc. (NYSE:HY) shares with an ‘Outperform’ rating and a price target of $80 per share.

As of Q3 2023, Hyster-Yale Materials Handling, Inc. (NYSE:HY) was ranked highest on our list of billionaire Gabelli’s 10 stock picks with huge upside potential. The stock was held by 16 hedge funds with the total shares held by hedge funds valued at $76 million. Mario Gabelli’s GAMCO Investors was its largest hedge fund shareholder with ownership of 1.0 million shares valued at $46 million. The stock accounted for 0.53% of the firm’s portfolio.

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