Buy these global clean energy stocks, UBS says, forecasting one to rise 50%

Skyrocketing energy costs have spurred investment in renewable energy across the world. The U.S. revealed plans to spend $370 billion on new energy provisions through its Inflation Reduction Act , while the European Union's REPowerEU plan targets 210 billion euros in investment. Companies across the sector are reacting accordingly with plans to replace traditional thermal generators, such as those fed by coal, oil and gas, with renewable energy sources powered by wind, solar and nuclear.

The below table shows the 10 global stocks, buy-rated by UBS, with the biggest upside. Shares of Texas-based energy company Vistra Corp are expected to soar by 51% over the next year, according to UBS' $35 price target. Last year, Vistara's stock beat the broader market with a 2% return. The S & P 500 , meanwhile, fell by 20%. Vistra is already the largest "competitive power generator" with a 39-gigawatt total capacity.

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Source: CNBC - 🏆 12. / 72 Read more »