JPMorgan releases top alternative energy picks for the second half
Tim McKibben, left, a senior installer for the solar company, Sunrun, and installer Aaron Newsom install solar panels on the roof of a home in Granada Hills.
Mel Melcon | Los Angeles Times | Getty Images
Clean energy stocks have posted lackluster returns this year following record gains in 2020, but JPMorgan Chase believes a number of catalysts during the second half of the year will push these stocks higher.
Looking ahead, the firm pointed to progress on the Biden infrastructure plan, the UN Climate Change Conference of the Partiers (COP26) in the fall and easing raw material tightness as factors that will provide upside support.
“We turn incrementally positive on global alternative energy sector into H2’21,” the firm said Tuesday in a note to clients. “We see numerous positive catalysts between now and the end of the year, which, in our view, will support the share price performance of the alternative energy sector.”
