Automotive stock valuations make a lot of sense based on today’s industry environment, (BofA) Securities analyst John Murphy told CNBC Wednesday.
It’s an interesting time for autos, Murphy told CNBC co-host Andrew Sorkin: production has been restrained due to supply shortages and demand has recovered.
Murphy’s Autos Forecast: Sorkin asked the analyst what company will be the winner in the space five years from now
“I think you will see some of the new entrants do pretty well also.”
The Fate Of Used Cars: The industry will need to transition at some point, as internal combustion engines become the past and EVs move from the future into the present, Murphy told CNBC.
Murphy said he expects these companies to persist well into the EV future, which will be “good for the industry.”
2021 price Action: General Motors is up 48.75% year-to-date.
Tesla is down 1.99% year-to-date.
Carvana is up 15.89% year-to-date.
CarMax is up 33.74% year-to-date.
Image by Sravan Kumar Anirudhan from Pixabay.
Latest Ratings for GM
|Apr 2021||Wells Fargo||Initiates Coverage On||Overweight|
|Feb 2021||Morgan Stanley||Maintains||Overweight|
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