Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

3 Solar Stocks Wall Street Predicts Will Rally by More Than 20%

Published 04/14/2021, 03:15 PM
Updated 04/14/2021, 04:30 PM
© Reuters.  3 Solar Stocks Wall Street Predicts Will Rally by More Than 20%

© Reuters. 3 Solar Stocks Wall Street Predicts Will Rally by More Than 20%

Increasing governmental policy support worldwide to achieve net zero carbon emissions has incentivized Wall Street to place huge bets on the renewable energy industry. Consequently, many solar companies are finding new ways to capitalize on the industry tailwinds, and analysts expect Enphase Energy (NASDAQ:ENPH), SolarEdge (SEDG), and ReneSola (SOL) to deliver more than 20% returns in the next 12 months. Let’s discuss these names in more detail.The renewable energy industry has been surging since the second half of 2020 on investor optimism surrounding policy support from governments around the world to achieve net-zero carbon emissions. Because solar is one of the most popular renewable energy sources, shares of companies in the sector have been surging over the past year. Furthermore, President Biden’s interest in the electrification of vehicles over the next few years is motivating various solar companies to find efficient ways to charge electric vehicles with solar power.

Given the current industry tailwinds, Wall Street is placing huge bets on the solar industry. This has driven a rally in solar stocks, as evidenced by Invesco Solar Portfolio ETF’s (TAN) 210.4% returns over the past year versus S&P 500’s 50% gains.

Based on consensus price targets, we think prominent solar stocks Enphase Energy, Inc. (ENPH), SolarEdge Technologies, Inc. (NASDAQ:SEDG), and ReneSola Ltd. (SOL) have the potential to rally by more than 20% in the next 12 months.

Continue reading on StockNews

Latest comments

so why ENPH is falling down?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.