Solar Energy names are just starting to see a good deal of attention.
Not only were solar stocks gaining momentum with the election, but they’re also gaining explosive momentum with the artificial intelligence boom.
In fact, we’re just starting to see explosive electricity demand from U.S. data centers that are helping fuel the artificial intelligence boom. “Not only is the number of data centers rising, but they’re also getting bigger and requiring more power. On its Q1 2024 earnings call, Virginia-based utility Dominion Energy reported that requests for energy demand from proposed data center campuses range from 300 megawatts (MW) up to several gigawatts (GW),” they added.
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Company: Analysts atArgus just raised their First Solar price target to $250 from $225, with a “buy” rating. The firm believes FSLR will benefit from evolving tariffs and other regulations regardless of who wins the election. Barclays also just raised its price target to $290 from $280 with an “overweight” rating on the stock. Analysts at Citi also upgraded FSLR to a buy rating with a $254 price target, noting it should benefit regardless of the election outcome. |
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Company:Sunrun (SYM: RUN) Sunrun is seeing upside on news it’s in talks with data center developers to provide solar power generation to their sites. “The San Francisco company, which specializes in residential solar and battery systems, is looking at a couple different really cool models,” said company CEO Mary Powell. Investing Trends Company: “is based on the MAC Global Solar Energy Index (Index). The Fund will invest at least 90% of its total assets in the securities, American depositary receipts (ADRs) and global depositary receipts (GDRs) that comprise the Index,” as noted by Invesco.com. Some of the fund’s top holdings include First Solar, Enphase Energy, Sunrun, Xinyi Solar, and NEXTracker Inc. Found this helpful? Share it with others. Written by Dylan Jovine |
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