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☆ Best energy and utility stocks to own for rest of year, according to UBS
▼ + stars: | 2024-05-31 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

In a Thursday note, analyst Josh Silverstein listed the firm's "most compelling" buy-rated stocks to own across the energy and utilities sectors, including Suncor Energy , Coterra Energy , SLB , NextEra Energy and First Solar . Energy and utilities sectors are faring well this year, gaining 12.5% and 8.9%, respectively, while the broader market has advanced about 9.3%. His $90 price target suggests shares could jump 15.1%. First Solar is another favorite of UBS, which assigned the stock a $350 price target that implies 26.5% upside. Other energy and utility favorites UBS named include Coterra and Suncor Energy .

Persons: Josh Silverstein, William Appicelli, Jon Windham, —, SLB Organizations: UBS, Suncor Energy, Coterra Energy, NextEra Energy, . Energy, Big Tech Locations: Schlumberger

☆ UBS says this battery systems company is an 'under-appreciated beneficiary' of the AI-driven data center boom
▼ + stars: | 2024-05-29 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Investors looking for new ways to capitalize on artificial intelligence should look at Fluence Energy , according to UBS. "FLNC is an under-appreciated beneficiary of increasing AI data center driven electricity demand as a leading supplier of utility-scale battery systems," analyst Jon Windham said. The firm reiterated its buy rating on the energy storage stock alongside a $32 per share price target. Fluence Energy is the second-biggest battery supplier at the utility level in the U.S. behind Tesla, UBS noted. "The more data centers consume electricity, the larger the arbitrage opportunity becomes, driving more demand for energy storage systems," the analyst said.

Persons: Jon Windham, Tesla, Windham Organizations: Fluence Energy, UBS, Energy, Nvidia, Data Locations: U.S

6:27 a.m.: UBS hikes First Solar price target, sees 25% upside There's a rosy outlook ahead for First Solar , according to UBS. Analyst Jon Windham cited a more supportive pricing environment as one reason for the price target change. The investment bank upgraded the airline to buy from hold, lifting its price target to $65 from $54. — Lisa Kailai Han 5:41 a.m.: Bank of America reiterates Apple as a top pick Apple shares could get a boost as consumers upgrade to AI-enabled phones, according to Bank of America. Analyst Wamsi Mohan reiterated his view that Apple is a top pick, maintaining his buy rating and price target of $230.

Persons: Jon Windham, Windham, Lisa Kailai Han, Scott Gruber, Gruber, LBRT, — Lisa Kailai Han, Morgan Stanley, SLB, Daniel Kutz, Kutz, Jefferies, Sheila Kahyaoglu, Kahyaoglu, Wamsi Mohan, Mohan, Fred Imbert Organizations: CNBC, United Airlines, Apple, United, Jefferies, Bank of America, UBS, Citi, Liberty Energy, of Liberty Energy, Nvidia Locations: Tuesday's, OFS, United

☆ Moderna and this solar name are among the most overbought stocks after a record-setting week
▼ + stars: | 2024-05-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

It may be time for investors to trim positions in overbought names after the stock market reached record levels this week. Certain stocks this week became overbought, based on their 14-day relative strength index, or RSI. Here are the most overbought names in the S & P 500 this week: Moderna was the most overbought stock in the S & P 500, scoring an RSI of about 86.5. Analysts think shares, which have rallied about 28% this year, could peel back roughly 8%. Other oversold stocks include SLB , J.B. Hunt and Molson Coors .

Persons: LSEG, Jon Windham, Johnson, Ulta, Hunt Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Moderna, UBS, Johnson Controls, Bloomberg, Elliott Investment Management, Johnson, Barclays, Deutsche Bank, Jefferies, Molson Coors Locations: U.S, oversold, J.B

☆ First Solar earnings could surge 370% by 2027 as Big Tech hunts for renewables to power AI, UBS says
▼ + stars: | 2024-05-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

First Solar's earnings are expected to surge 374% to $36.74 per share in 2027, analysts led by Jon Windham told clients in a research note Tuesday. Utility-scale solar represents 80% of the corporate power purchase agreements over the past five years, and the four tech companies represent 40% of utility-sale solar demand, according to UBS. First Solar makes thin-film solar modules rather than silicon-based modules that are dominated globally by China. This will allow First Solar customers to benefit from the 10% domestic content tax credit under the IRA, which is worth about 10 cents per watt of solar power. "FSLR is also a hedge against potential weakness in the 'sustainability' of the Chinese silicon based solar supply chain."

Persons: Jon Windham, Windham, Goldman Sachs, Mark Widmar, Alexander Bradley Organizations: Big Tech, UBS, Microsoft, Meta, Google, First Locations: U.S, China, Ohio, Alabama, Louisiana

☆ First Solar is trading at levels not seen in more than a decade. Here's where it could go next — and whether you should buy it
▼ + stars: | 2023-03-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Solar technology company First Solar has seen its shares skyrocket in the new year — and some think this is only the beginning. UBS analyst Jon Windham, who rates the stock as a buy, has a near-Street-high price target of $250 per share. Young has a buy rating on the stock and a price target of $210 per share. Meanwhile, Wealth Consulting's Worden noted that First Solar shares are already trading at a high valuation. Refinitiv data also shows that the average analyst price target on the stock is $187.99, which implies downside of about 12%.

☆ UBS upgrades First Solar, says Inflation Reduction Act tax credits can help stock rally more than 25%
▼ + stars: | 2023-03-03 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

First Solar will likely be a main beneficiary of the Inflation Reduction Act's manufacturing tax credits , according to UBS. Analyst Jon Windham upgraded the solar stock to buy from neutral and raised his price target by $110 to $250. His new price target implies the stock could jump 26.1% from where it closed Thursday. The manufacturing credits should also add $1.7 billion to annual revenue following the company's expansion of its U.S. production operations. He said the tax credits would also mitigate prior concerns related to start-up and ramp-up costs diluting margins in 2023 and 2024 as the company increases its U.S. manufacturing presence.

☆ A little-known renewable energy stock could rally more than 20%, UBS says
▼ + stars: | 2023-03-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

UBS thinks Ormat Technologies , a little-known geothermal and renewable energy company, could see big earnings growth in the coming years, creating a promising buying opportunity for investors. UBS sees multiple tailwinds ahead for the company, such as new geothermal, solar and storage capacity additions, as well as improving backlog and margins. Ormat is also anticipated to benefit from state and federal policy support for renewable energy. However, he said that "the recent underperformance provides investors with a buying opportunity ahead of the coming growth recovery." Windham raised his price target to $105 from $103, implying a 24.2% upside from the stock's closing price on Tuesday.

☆ This under-the-radar energy storage stock can get a 60% boost from Inflation Reduction Act, UBS says
▼ + stars: | 2022-10-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Expect tax credits from the Inflation Reduction Act to boost this little-known battery storage stock by more than 60% in the months ahead, UBS said. "STEM's high operating leverage business model is positioned to be a key beneficiary of the 30% stand-alone storage tax credit in the Inflation Reduction (IRA), in our view." Across the commercial battery storage sector, UBS anticipates a 34% compounded annual growth rate through 2030 driven by lower storage costs stemming from IRA tax credits and the consumer drive to trim energy expenses. He highlighted in a separate note to clients Altus Power 's strategic partnerships with both CBRE and Blackstone , which should offer low-cost access to both customers and capital. "We view Altus Power as a key long-term beneficiary of the IRA and more normalized solar supply chains in 2023 — CNBC's Michael Bloom contributed reporting

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