Sour investor sentiment toward the clean energy sector may be short-lived, according to the investment bank, which gave one of its stock picks over 100% upside.
Clean energy stocks have struggled since the pandemic, with negative returns each year since 2021. They've underperformed the market by 18% this year, and their valuation has halved from a peak in September 2021, according to Bernstein. But the sour sentiment toward the sector may be short-lived, according to the investment bank. Analysts at Bernstein say there is significant potential for growth in several clean energy companies, thanks to recent policy changes and increased investment.
line However, at its current share price, the stock is "too cheap to ignore" as the company is now expected to focus on "value over volume, no equity raise, disciplined bidding and capital allocation with higher return expectations for newer projects," the bank said in a note to clients on May 4. Vestas Shares of Danish wind-turbine maker Vestas Wind Systems is expected to rally by more than 35% over the next 12 months as it is a "clear beneficiary" of U.S.
Bernstein said battery-maker Contemporary Amperex Technology Co. Limited, also known as
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