These clean energy stocks are breaking out on Biden optimism, Bank of America chart analyst says

as Biden rises in the polls, and Bank of America said there's more upside ahead for some of the key players in the renewables space.

The former Vice President has outlined a $2 trillion sustainable infrastructure plan that would make the U.S. power sector carbon free by 2035, and the country carbon neutral by 2050. "With increasing investor expectations of not just a potential Biden win but further upside for renewables tied to a Dem sweep at the Senate, we note broader expectations for the solar industry to benefit broadly," Bank of America technical research strategist Stephen Suttmeier said in a recent note to clients.

Given these stocks' record run, Suttmeier said there's "clear election upside," but did caution around increasingly higher investor expectations. With that in mind, he believes a company-specific approach should be taken, noting that residential solar plays could be a big winner given that the federal solar tax credit could be extended even if the Senate doesn't flip.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Bank of America's unveils its top 9 e-commerce stock picks - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

U.S. Bank plans closure of 15% of branches by next year - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Capitalism growling before dying.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »