Daiwa Capital analysts give new stock recommendations
2022.12.23 11:21
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Daiwa Capital analysts give new stock recommendations
Budrigannews.com – Daiwa Capital Markets analysts informed investors in a note to clients on Friday that the company has initiated coverage on Enphase Energy (NASDAQ:) with an Outperform rating. and First Solar, Inc. with a price target of $335 and $175, respectively, and a neutral rating on SolarEdge Technologies (NASDAQ:) SEDG) with a price target of $325.
They explained that the company sees opportunities for investment in the renewable energy technology industry, which is experiencing “secular growth beyond the current economic cycle and dour conditions.” In addition, they argue that distinctive macro catalysts ought to enhance upside, expansion, and growth of businesses.
“Achieving emission-free and carbon-free targets set by numerous global governments depends heavily on solar. Analysts wrote, “Solar installations have increased.” However, believing in solar does not necessitate adhering to environmental or ESG principles. The economics of using solar energy as a source of energy are now quite convincing.”
Daiwa believes that demand should also accelerate, “likely even further when domestic manufacturing is more established, which should lower prices further and make renewables economics more compelling.” Daiwa prefers businesses with existing domestic manufacturing as the most immediate beneficiaries.
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“We also like those that can deliver GM expansion that works with both ENPH and FSLR and have a technological advantage. While SEDG likewise profits by the common development, we figure SEDG will be more moved in growing GMs and keep on losing piece of the pie in the U.S. market,” the experts closed.
