NEW YORK, April 24 (Reuters) - OM Group Inc shares could double in two years, Barron's said on Sunday, if the market for electric vehicles takes off.
Right now, electric vehicles account for a small portion of sales for Cleveland, Ohio-based OM, which sells chemicals used in lithium-ion batteries, Barron's said, adding that sales could get a boost if the technology becomes more widespread.
Conversely, shares of U.S. battery makers A123 Systems Inc , Ener1 Inc and Altair Nanotechnologies Inc may not be energized soon, Barron's said, since aggressive, mainly Asian rivals are dominating the battery business.
Barron's also said that shares of electric car maker Tesla Motors Inc appeared overvalued.
(Reporting by Martinne Geller; Editing by Steve Orlofsky) Keywords: OMGROUP/ (Reuters Messaging: martinne.geller.reuters.com@reuters.net; (646) 223-6023) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Right now, electric vehicles account for a small portion of sales for Cleveland, Ohio-based OM, which sells chemicals used in lithium-ion batteries, Barron's said, adding that sales could get a boost if the technology becomes more widespread.
Conversely, shares of U.S. battery makers A123 Systems Inc , Ener1 Inc and Altair Nanotechnologies Inc may not be energized soon, Barron's said, since aggressive, mainly Asian rivals are dominating the battery business.
Barron's also said that shares of electric car maker Tesla Motors Inc appeared overvalued.
(Reporting by Martinne Geller; Editing by Steve Orlofsky) Keywords: OMGROUP/ (Reuters Messaging: martinne.geller.reuters.com@reuters.net; (646) 223-6023) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.