Clean Tech Sector 2024: Morgan Stanley Optimistic On 5 Key Players, Skeptical On 4 Market Contenders
Portfolio Pulse from Surbhi Jain
Morgan Stanley analysts are optimistic about the clean tech sector, predicting vigorous growth over the next decade. They have upgraded First Solar Inc (FSLR) to Overweight with a price target of $237. Other Overweight-rated stocks include NextEra Energy Inc (NEE), The AES Corp (AES), Bloom Energy Corp (BE), and Altus Power Inc (AMPS). However, they rated Plug Power Inc (PLUG) and SunPower Corp (SPWR) as Underweight. Shoals Technologies Group Inc (SHLS) and Array Technologies Inc (ARRY) are seen as having significant downside. Key themes affecting valuations in 2024 include interest rates, deflation in clean energy technologies, election cycle effects, and profitable low-risk growth.
December 08, 2023 | 6:07 pm
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POSITIVE IMPACT
The AES Corp is also rated Overweight by Morgan Stanley, reflecting a positive stance on the stock.
The Overweight rating for AES by Morgan Stanley suggests optimism about the company's stock, potentially leading to a positive short-term price movement.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Altus Power Inc is among Morgan Stanley's high-conviction Overweight-rated stocks, suggesting a strong positive sentiment.
Being on Morgan Stanley's high-conviction Overweight list implies a bullish perspective on AMPS, which may positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Bloom Energy Corp is favored by Morgan Stanley with an Overweight rating, indicating a bullish outlook.
Morgan Stanley's Overweight rating on BE suggests that the stock is expected to perform well, which could lead to a rise in its short-term stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Morgan Stanley upgraded First Solar Inc to Overweight with a price target of $237, indicating a 64% upside potential.
The upgrade to Overweight and a significant increase in price target suggest a strong bullish sentiment from Morgan Stanley, which could lead to a positive short-term impact on FSLR's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
NextEra Energy Inc is rated Overweight by Morgan Stanley, indicating a positive outlook for the stock.
Being highlighted as an Overweight-rated stock by Morgan Stanley suggests a favorable view of NEE's future performance, which could positively influence its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Array Technologies Inc is also viewed by Morgan Stanley as having a lot of downside, potentially affecting the stock adversely.
Morgan Stanley's view of considerable downside for ARRY indicates a pessimistic stance, which could negatively influence its stock price in the near term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Plug Power Inc is rated Underweight by Morgan Stanley, indicating skepticism about the stock's performance.
The Underweight rating for PLUG by Morgan Stanley could lead to negative sentiment among investors, potentially causing a short-term decline in the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Shoals Technologies Group Inc is seen by Morgan Stanley as having significant downside, which could negatively impact the stock.
Morgan Stanley's assessment of significant downside for SHLS suggests a strong negative outlook, which could lead to a short-term drop in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
SunPower Corp also receives an Underweight rating from Morgan Stanley, reflecting potential concerns about the stock.
An Underweight rating from Morgan Stanley may create a bearish outlook for SPWR, possibly leading to a decrease in its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80