Plug Power, EVgo, Enovix: Analyst Clean Tech Picks For Navigating Election Exposure, Hedging Uncertainty
Portfolio Pulse from Surbhi Jain
JPMorgan analyst Bill Peterson recommends clean tech stocks Plug Power, EVgo, and Enovix as election season approaches. Plug Power and EVgo are seen as election-exposed plays, while Enovix is considered a safer hedge against election-related risks.
October 21, 2024 | 12:35 pm
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NEUTRAL IMPACT
Plug Power is highlighted as an election-exposed stock due to its sensitivity to the 45V Treasury guidance, which could offer tax incentives for clean hydrogen projects.
Plug Power's stock is sensitive to the 45V Treasury guidance, which could impact its projects. However, the analyst does not expect election results to significantly alter the guidance terms.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Enovix is recommended as a hedge against election-related risks due to its focus on consumer electronics and a manufacturing base in Malaysia, insulating it from U.S. political changes.
Enovix's business model and manufacturing location make it less susceptible to U.S. election-driven policy changes, providing stability for investors seeking to avoid political risks.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 75
POSITIVE IMPACT
EVgo is seen as having a strong path to profitability, potentially accelerated by access to low-cost capital from the DOE, making it a compelling election-exposed play.
EVgo's potential access to DOE capital could accelerate its profitability, making it a compelling choice for investors looking to capitalize on election-driven opportunities.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85