According to the company, its PLP is strategically positioned in one of the most ideal regions in the world. Piedmont cites favorable geology, location, and easy access to industry infrastructure as key factors here. More importantly, PLL stock is currently looking at monumental gains of over 1,000% in the past year. Could it be worth investing in now?Best Lithium Battery Stocks To Buy

Could These Top Lithium Battery Stocks Be Worth Adding To Your Portfolio?

When it comes to the question of “what are good stocks to invest in now?”, lithium battery stocks could be worth considering. After all, this section of the stock market continues to flourish thanks to global green initiatives. Simply put, lithium is a core component in electric vehicle (EV) batteries. As governments incentivize consumer adoption of EVs in the long run, demand for lithium batteries would surge as well. This would place EV names such as Baidu (NASDAQ: BIDU) and Ford (NYSE: F) in favorable positions. In fact, the duo’s share prices have already more than doubled in the past year.

On top of that, lithium miners would also stand to benefit from the current industry tailwinds as well. For instance, we could look at Lithium Americas (NYSE: LAC) and Albemarle Corporation (NYSE: ALB). Both companies’ shares are currently looking at gains of over 160% in the past year. All in all, there seems to be plenty of viable entry points in the lithium battery industry now. Should investors be jumping on this train?

For the most part, the lithium battery market continues to gain momentum. Earlier today, it was reported that European Union (EU) officials are now vouching for lithium mining operations being environmentally friendly. Notably, the head of the European Commission’s raw materials unit, Peter Handley, provided a clear picture of the EU’s intentions. Handley emphasized letting people know that lithium mining will be done the “right way, in full compliance with regulations”. Overall, lithium battery stocks could have more room to run thanks to all of this. In line with that, check out these top lithium battery stocks making headlines in the stock market today.

Piedmont Lithium

Topping off our list is emerging lithium producer, Piedmont Lithium. Primarily, Piedmont operates out of its Piedmont Lithium Project (PLP) in North Carolina. By and large, the company is looking to become a strategic domestic supplier of lithium hydroxide in the U.S. As you’d expect, Piedmont’s core end markets include the EV and battery storage industries.

Well, investment banking company JPMorgan Chase (NYSE: JPM) appears to believe so. Namely, JPMorgan initiated coverage on PLL stock yesterday, hitting it with an overweight rating and an $86 price target. This marks an upside of over 25% from its current price of $69.71 a share as of 11:25 a.m. ET. Seeing as PLL stock is starting to appear on investors’ radars, would you consider it a buy right now?