After the sell-off in solar energy stocks following the U.S. presidential election, investors might be interested in buying dips in these names, but not yet.Wall Street analysts see double-digit upside potential in these names, backed by earnings growth and price discounts.
These projections call for a near doubling in profits compared to today's $2.91 EPS, which should give investors a chance to double their money through an ensuing rally as well. As it turns out, analysts weren't the only ones willing to take an optimistic view of the stock. Over the past 12 months, investors have seen up to $1.8 billion of institutional capital enter the company, another factor that should be kept front and center when considering a potential new buy in Nextracker stock.
Knowing that these targets are within reality, Baillie Gifford decided to boost their position in Enphase stock by 0.9% as of November 2024. While it may not seem like much on a percentage basis, the group now holds up to $716.9 million worth of the stock today, or 4.7% ownership in the company.
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