Wall Street bank Citi has identified two stocks that it believes are well-positioned to thrive regardless of shifts in the interest rate environment or political landscape. Citi's research comes ahead of the Federal Reserve's potential interest rate cut later this month and the upcoming U.S. elections in November.
ECL 1Y line Citi believes the fundamentals will matter more for stock market investors going forward as many clean energy stocks that rose into "micro bubbles" in 2021 have "completely unwound". "A number have even filed for bankruptcy. Currently, more than 20 stocks are off more than -80% from their 5-year highs. A quarter of "Green" stocks are down -60% or worse from post-pandemic peaks," the analysts said.
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