Analysts at Barclays have identified electrification as a "mega theme" and have named several stocks set to benefit. Electrification — particularly expanding and modernizing the grid — is needed to accommodate growing electricity demands, changing grid characteristics and extreme weather, the analysts wrote in a research note dated Aug. 16. "The electric grid plays a key electrification and energy transition role," they said.
" These include: MasTec — which focuses on engineering, construction and maintenance services for the energy and utilities sectors in North America — is one of the stocks rated overweight by the bank. Barclays' overweight rating corresponds to a buy recommendation. The bank is also overweight-rated on energy management company Schneider Electric .