7 Most Undervalued Solar Stocks to Buy According to Analysts

The article highlights the potential of the global solar energy market, which is expected to grow significantly by 2034. The market is driven by sustainable energy policies, technological advancements, and increasing consumer demand. The North American region, particularly the United States, is experiencing growth in residential and utility solar installations. Meanwhile, the Asia Pacific region, led by India, is poised for continued expansion as it aims to meet renewable energy targets. The article also emphasizes the economic benefits of solar energy, with lower energy costs being a major driver for its growth. Abigail Ross Hopper, President of the Solar Energy Industries Association, notes that the solar industry s growth is not limited to California but is gaining traction in other states as well. To capitalize on this growth, the article presents a list of 7 undervalued solar stocks to buy according to analysts. The list includes JinkoSolar (NYSE:JKS), First Solar (NASDAQ:FSLR), and six other companies. These companies are chosen based on their forward P/E ratio, analyst upside potential, and hedge fund sentiment. JinkoSolar (NYSE:JKS) is a leading solar company with a focus on developing and producing photovoltaic solar products. The company has achieved new records in cell efficiency and plans to expand its global presence with a new factory in Saudi Arabia. First Solar (NASDAQ:FSLR) is a leading manufacturer of thin-film photovoltaic solar panels, catering to large-scale solar power projects worldwide. The company has seen significant revenue growth and is in the process of patenting its innovative TOPCon technology. The article concludes by highlighting the attractive valuations of these undervalued solar stocks, with their P/E ratios being below the sector median. Analysts forecast earnings growth for these companies, making them promising investment opportunities in the rapidly expanding solar energy market.

Source: insidermonkey.com
Published on 2024-10-04

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