Electric vehicle stocks show no signs of slowing.

At this point, Tesla could easily hit $1,000 a share again after it’s added to the S&P 500 in December.  After posting its best quarterly profit to date, and with hopes of selling a half million cars this year, the stock is up again.

Former TSLA bears at Baird even just admitted they were “too early” in downgrading the stock earlier this year, as noted by MarketWatch.  Nowadays, ““Clearly incorrect, we are now upgrading share as we think TSLA has the substantial access and ability to deploy capital, and has multiple ways to drive substantial revenue growth.”

“Tesla’s competitive moat over peers is substantial (and growing, enabled buy rapid capital deployment) and we think it is unlikely traditional OEMs [original equipment manufacturers] will be able to effectively compete over time,” added Baird analysts.

Nio Inc. (NIO)

Nothing, it seems can stop this stock from moving higher.  Deliveries, earnings, and the number of bullish analysts continue to pop here.  J.P. Morgan analyst Nick Lai for example just upgraded the NIO stock to a buy from a hold, taking his target to $40 a share. Lai believes China’s EV penetration could quadruple by 2025,” meaning that about 20% of all new cars sold in China would be battery powered,” as noted by Barron’s.

Better, the company just posted adjusted loss came in at 12 cents, as compared to expectations for 18 cents.  Revenue of $666.6 million beat $663.29 million.  And gross margins came in at 12.9% a compared to expectations for 11.25%.  Better, with Q4 2020 guidance, the company expects to deliver between 16,500 and 17,000 vehicles.

Li Auto (LI)

The stock was just upgraded at Citigroup to a buy rating from a hold rating with a price target of $45 a share. Plus, remember, global demand for such vehicles is only expected to grow.

According to the International Energy Agency, we could see about 130 million EVs on the road by 2030, a monumental move from 5.1 million in 2018.

And, according to Wedbush analyst Dan Ives, “We continue to believe [electric vehicle] demand in China is starting to accelerate in July/August with Tesla competing with a number of domestic and international competitors for market share with Giga 3 remaining the linchpin of success which remains the prize that [Chief Executive Elon] Musk and Tesla are laser focused on capturing.”