Interest in battery stocks is starting to pick up once again, after a tough year so far. The Global X Lithium & Battery Tech ETF is down around 12% year-to-date, as growth stocks got battered in the higher-interest-rates-for-longer investing environment. However, the ETF’s fortunes could be turning; it’s gained 2.7% over the last three months. It comes as prices of the raw materials used in electric vehicle batteries — lithium, nickel and cobalt — have jumped as demand skyrockets. And analysts expect them to rise even further, as EV production and sales rise, Rystad Energy analysts sais in a note last week. Against this backdrop, CNBC Pro screened the Global X Lithium & Battery Tech ETF on FactSet for stocks that analysts expect to outperform, using the following criteria: Buy ratings from more than 50% of analysts covering them Upside to average price target of at least 20% The screen turned up 12 names that met those criteria. The stock that topped the list in terms of highest potential upside was South Korean battery materials manufacturer L & F, with an average upside of 116%, according to FactSet. One American stock that made the screen was Microvast Holdings . It has struggled this year with a drop of more than 60%, but analysts expect it to lift from here, giving it upside of 33%, according to FactSet. EV giant Tesla also appeared on the list, with analysts giving it upside of more than 33%. The stock has not done well this year either — dropping more than 20% year to date — although it has jumped more than 6% in the past month. Meanwhile, 100% of all analysts covering the stocks gave these names a buy rating: Microvast, Piedmont Lithium , and Standard Lithium . Over 70% upside One outlier on the screen in terms of performance-to-date is Australian lithium miner Allkem , which has soared more than 40% this year. And analysts say it has potential to go even further, giving it an average upside of 74%, according to FactSet. In a June report, the company said it had posted record revenues and annual production . “Strong cashflow and a robust balance sheet are expected to fund delivery of an aggressive growth strategy to increase production threefold by 2026 and to maintain 10% market share,” the company said. “The increase in production will be underpinned by the forecast growth in demand needed for the transition to electric vehicles.” — CNBC’s Zavier Ong contributed to this report.