European utilities and clean energy had an underwhelming performance in 2024, but Bernstein sees bright spots within the sector to play in the year ahead. "We have a bias towards companies loading up on the visible capex cycle in electricity networks," the investment bank's analysts wrote in a Dec. 9 note. Here are two of Bernstein's top stock picks in the theme.
" Shares in EDPR are listed on the Portuguese Euronext Lisbon and trade as an American Depositary Receipt in the U.S under the EDRVY ticker. SSE Bernstein is also betting on energy company SSE , which it says sits "on a number of scarce but low cost renewable growth options and is happy to patiently wait for the right opportunities." A key plus for the company is that its "balance sheet is in a strong position to support the growth," Bernstein analysts noted.
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