Reducing carbon emissions is all the vogue among the green policy wonks these days, and whether you believe in the efficacy of those policies or not, one thing is undeniable: they will have an impact on your daily life. Specifically, they will impact the cars you drive – and probably your fuel and electric bills as well.It’s no secret that the Trump Administration has favored the oil and gas industry, and in fact, gasoline prices have declined during the past four years. The incoming Biden Administration is expected to look far more favorably on green policies, particularly the electrification of the automobile fleet. Electric vehicles have been with us for a while, and some models are achieving popularity and driver approval. The next step will be a governmental push, via policy, to make EVs cheaper to build, more affordable to buy, and more practical on the road.In a recent report from Goldman Sachs, the investment giant foresees global sales of electric vehicles hitting 1.8 million units this year, with 8.3 million by 2025 and an impressive 34 million by 2035. The result of this will be a reduction in the conventional car/electric car ratio of 18%.With this in mind, Goldman’s stock analysts are tapping two electric vehicle companies which are likely to succeed in the climate of the next four years – and one to watch from the sidelines. We’ve used the TipRanks database to get a better sense of what other Wall Street analysts think about the trio. Li Auto (LI)Li Auto is one of the myriad EV production companies that has cropped up in China in recent years. The Chinese domestic car market should not be overlooked – the country has a population near 1.4 billion, with some 800 million in the urban areas, and as a whole, China is rapidly growing wealthier. Li specializes in plug-in hybrids, which combine combustion engines and an electric drive train – and are especially useful in a country with a limited EV charging network. Li first model, the Li ONE, was put on the market in November of last year, and by this past October, the company had sold over 22,000 cars. That month, the sales volume hit 3,700, making the Li ONE China’s best-selling electric vehicle model. This company is a newcomer to the US stock markets, having held its IPO at the end of July this year. Share debuted on the market at $11.50, higher than the initial projected range. Since the IPO, shares in LI have gained 173%. Covering Li Auto for Goldman Sachs, analyst Fei Fang writes, “We believe Li Auto is differentiating itself from the broader Chinese auto-making industry by envisioning and creating compelling EV consumer experiences – and showing a willingness to take on the risk of unconventional technologies and act innovatively… driving transformations that will lead the long-term adoption of EVs in China. We view Li ONE as the first step in a larger innovation plan that will provide significant optionality value for the share price.”To this end, Fang rates LI a Buy along with a $60 price target. At current levels, this implies a 91% one-year upside. (To watch Fang’s track record, click here)Looking at the consensus breakdown, Wall Street takes a bullish stance on LI. 3 Buys and 1 Hold issued over the previous three months make the stock a ‘Strong Buy.’ It should also be noted that its $36.65 average price target suggests 16% upside from the current share price. (See LI stock analysis on TipRanks)Tesla (TSLA)This company needs no introduction; Elon Musk, with his genius for promotion and notoriety, has seen to that over the past few years. He’s been helped along by the company’s successful efforts to address quality control and production bottlenecks, while introducing popular new models. The result: TSLA stock has skyrocketed 667% in 2020.The huge spike in share value has accompanied record-setting profits. Tesla turned profitable in 3Q19, and has remained so despite the impact of corona. The company’s 3Q20 results were nothing short of remarkable. Revenues rose to $8.8 billion, a 39% year-over-year gain and an even bigger 46% sequential gain. EPS rose 105% year-over-year, to hit 76 cents per share. And even better for the car maker: the free cash flow is solid, at $1.4 billion for the quarter.The third quarter results stood on a solid foundation of production and deliveries. The company reported 145,000 vehicles manufactured in the quarter, with nearly 140,000 delivered. Improvements in delivery efficiency have helped the company to cut back on its new vehicle inventory.Goldman analyst Mark Delaney is bullish on Tesla – and on the EV sector’s future, in general. He writes, “We believe that the shift toward battery electric vehicle (EV) adoption is accelerating and will occur faster than our prior view. We believe that battery prices are falling faster than we previously expected which improves the economics of EV ownership, and there has recently been an increase in regulatory proposals from some jurisdictions to limit or ban the sale of new internal combustion engine (ICE) vehicles entirely in 10-20 years.”Backing his bullish stance, Delaney rates TSLA a Buy. His price target, of $780, suggests an upside of 21% in the next 12 months. (To watch Delaney’s track record, click here)However, despite the huge gains in recent months, or maybe because of that, Wall Street remains cautious of Tesla. The analyst consensus rating is a Hold, based on 25 reviews, including 10 Buys, 8 Holds, and 7 Sells. The stock’s average price target is $403.24, indicating a possible downside of 37% from current levels. (See TSLA stock analysis on TipRanks)Nio (NIO)Last on our list is Goldman’s neutral call on Nio, another Chinese electric vehicle company. Nio has, in recent months, managed to stand out from China’s crowded domestic EV market, introducing new models and innovative ideas. The company’s current line-up includes three mid-size SUVs powered by lithium-ion batteries, and sports car, a 2-door coupe with water-cooled electric motors. The company has several models, including two sedans, a minivan, and another SUV, lined up for future release.Among the customer-oriented ideas that Nio is working with is ‘Battery as a Service,’ or BaaS. This concept divorces the battery from the vehicle, allowing car owners to purchase a monthly subscription and ‘refuel’ their vehicle by swapping out the battery assembly.Earnings, while still at a net loss, have been improving for the past four quarters, and Q3 revenue came in at $4.53 billion, the best in over a year. Year-to-date, NIO shares have shown tremendous growth — the stock is up over 1000%.Noting that Nio has strength in its leading position in the market, Goldman’s Fei Fang writes of the risks: “While Nio’s brand has been impressively established, we expect competition to heat up in the coming years with large OEMs launching comparable models, such as ID4 and Model Y… If our projected battery price declines / excess capacity does not come through and the industry works with tight manufacturing capacity and hefty EV component prices, it would weigh on Nio’s margin expansion.”Fang gives NIO shares a Neutral (i.e. Hold) rating. But the analyst might as well have said “buy” — because he thinks the stock, currently at $45.11, could zoom ahead to $57 within a year, delivering 31% profits to new investors. Overall, Nio’s stock gets a Moderate Buy analyst consensus rating, based on 7 Buys and 4 Holds. Meanwhile, the $49.01 average price target implies nearly 9% upside. (See NIO stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
NAIROBI, Kenya (AP) — The body of Ugandan Olympic athlete Rebecca Cheptegei — who died after being set on fire by her partner in Kenya — was received Friday by family and anti-femicide crusaders, ahead of her burial a day later.
Cheptegei’s family met with dozens of activists Friday who had marched to the Moi Teaching and Referral Hospital’s morgue in the western city of Eldoret while chanting anti-femicide slogans.
She is the fourth female athlete to have been killed by her partner in Kenya in yet another case of gender-based violence in recent years.
Viola Cheptoo, the founder of Tirop Angels – an organization that was formed in honor of athlete Agnes Tirop, who was stabbed to death in 2021, said stakeholders need to ensure this is the last death of an athlete due to gender-based violence.
“We are here to say that enough is enough, we are tired of burying our sisters due to GBV,” she said.
It was a somber mood at the morgue as athletes and family members viewed Cheptegei’s body which sustained 80% of burns after she was doused with gasoline by her partner Dickson Ndiema. Ndiema sustained 30% burns on his body and later succumbed.
Ndiema and Cheptegei were said to have quarreled over a piece of land that the athlete bought in Kenya, according to a report filed by the local chief.
Cheptegei competed in the women’s marathon at the Paris Olympics less than a month before the attack. She finished in 44th place.
Cheptegei’s father, Joseph, said that the body will make a brief stop at their home in the Endebess area before proceeding to Bukwo in eastern Uganda for a night vigil and burial on Saturday.
“We are in the final part of giving my daughter the last respect,” a visibly distraught Joseph said.
He told reporters last week that Ndiema was stalking and threatening Cheptegei and the family had informed police.
Four in 10 women or an estimated 41% of dating or married Kenyan women have experienced physical or sexual violence perpetrated by their current or most recent partner, according to the Kenya Demographic and Health Survey 2022.
TEL AVIV, Israel (AP) — A rare Bronze-Era jar accidentally smashed by a 4-year-old visiting a museum was back on display Wednesday after restoration experts were able to carefully piece the artifact back together.
Last month, a family from northern Israel was visiting the museum when their youngest son tipped over the jar, which smashed into pieces.
Alex Geller, the boy’s father, said his son — the youngest of three — is exceptionally curious, and that the moment he heard the crash, “please let that not be my child” was the first thought that raced through his head.
The jar has been on display at the Hecht Museum in Haifa for 35 years. It was one of the only containers of its size and from that period still complete when it was discovered.
The Bronze Age jar is one of many artifacts exhibited out in the open, part of the Hecht Museum’s vision of letting visitors explore history without glass barriers, said Inbal Rivlin, the director of the museum, which is associated with Haifa University in northern Israel.
It was likely used to hold wine or oil, and dates back to between 2200 and 1500 B.C.
Rivlin and the museum decided to turn the moment, which captured international attention, into a teaching moment, inviting the Geller family back for a special visit and hands-on activity to illustrate the restoration process.
Rivlin added that the incident provided a welcome distraction from the ongoing war in Gaza. “Well, he’s just a kid. So I think that somehow it touches the heart of the people in Israel and around the world,“ said Rivlin.
Roee Shafir, a restoration expert at the museum, said the repairs would be fairly simple, as the pieces were from a single, complete jar. Archaeologists often face the more daunting task of sifting through piles of shards from multiple objects and trying to piece them together.
Experts used 3D technology, hi-resolution videos, and special glue to painstakingly reconstruct the large jar.
Less than two weeks after it broke, the jar went back on display at the museum. The gluing process left small hairline cracks, and a few pieces are missing, but the jar’s impressive size remains.
The only noticeable difference in the exhibit was a new sign reading “please don’t touch.”
VICTORIA – The British Columbia government is partnering with a bear welfare group to reduce the number of bears being euthanized in the province.
Nicholas Scapillati, executive director of Grizzly Bear Foundation, said Monday that it comes after months-long discussions with the province on how to protect bears, with the goal to give the animals a “better and second chance at life in the wild.”
Scapillati said what’s exciting about the project is that the government is open to working with outside experts and the public.
“So, they’ll be working through Indigenous knowledge and scientific understanding, bringing in the latest techniques and training expertise from leading experts,” he said in an interview.
B.C. government data show conservation officers destroyed 603 black bears and 23 grizzly bears in 2023, while 154 black bears were killed by officers in the first six months of this year.
Scapillati said the group will publish a report with recommendations by next spring, while an independent oversight committee will be set up to review all bear encounters with conservation officers to provide advice to the government.
Environment Minister George Heyman said in a statement that they are looking for new ways to ensure conservation officers “have the trust of the communities they serve,” and the panel will make recommendations to enhance officer training and improve policies.
Lesley Fox, with the wildlife protection group The Fur-Bearers, said they’ve been calling for such a committee for decades.
“This move demonstrates the government is listening,” said Fox. “I suspect, because of the impending election, their listening skills are potentially a little sharper than they normally are.”
Fox said the partnership came from “a place of long frustration” as provincial conservation officers kill more than 500 black bears every year on average, and the public is “no longer tolerating this kind of approach.”
“I think that the conservation officer service and the B.C. government are aware they need to change, and certainly the public has been asking for it,” said Fox.
Fox said there’s a lot of optimism about the new partnership, but, as with any government, there will likely be a lot of red tape to get through.
“I think speed is going to be important, whether or not the committee has the ability to make change and make change relatively quickly without having to study an issue to death, ” said Fox.
This report by The Canadian Press was first published Sept. 9, 2024.
