Goldman Sachs has named a number of European renewable energy stocks it says the market is missing — and says it expects the sector to bounce back after a period of declining returns.
The growth in renewable energy is "highly compelling," the bank said, owing to the European energy crisis, a decline in costs for wind and solar energy, and the European Union's focus on mitigating climate change.
"RWE is among the best-placed [renewable energy storage] developers to capture the expanding addressable market in the US, Germany and the rest of Europe," the analysts stated.
As the pipeline builds we expect the company to unlock further value," the analysts stated.
Conviction list stocks Two of Goldman's stock picks are on its conviction list of most favored stocks.
Persons:
Goldman Sachs, Alberto Gandolfi, Goldman, Enel, —
Organizations:
EDP Renewables, ENEL, Scottish, Renewables, LevelTen Energy
Locations:
Orsted, US, Germany, Europe