As we head into the new week, keep an eye on these stocks that Wall Street analysts upgraded or initiated positively last week, all first covered on InvestingPro+.
General Motors Co aims to slash the cost of electric vehicle battery cells and has added Vale to its growing roster of battery material suppliers as the automaker girds for increasing EV competition beyond 2025, GM said on Thursday. Brazilian mining giant Vale SA will supply GM with battery-grade nickel for future electric vehicles, starting in 2026, GM executive Doug Parks said on Thursday. The automaker also expects to cut the cost of its Ultium battery cells to less than $70 per kilowatt-hour "in mid to late decade," according to Parks, who heads GM's global product development, purchasing and supply chain.
Vale (VALE) reports lower year-over-year third-quarter 2022 earnings primarily due to lower iron ore volumes and iron ore prices.