Emeren Group ( SOL ): An Undervalued Solar Stock to Buy According to Analysts
Emeren Group (NYSE:SOL) is a clean energy company focusing on solar power and storage projects. The company has shifted its focus to the European market, where it sees less competition and more growth opportunities. Emeren (NYSE:SOL) has a diversified portfolio of 245MW of photovoltaic (PV) systems and 15MWh of storage systems, with a significant portion of its order backlog in Europe. The company has been expanding its Engineering, Procurement, and Construction (EPC) services, which account for around 50% of its revenues. The demand for EPC services in the photovoltaic sector is growing, and Emeren (NYSE:SOL) is capitalizing on this trend, particularly in Europe. Despite facing challenges related to project delays, Emeren (NYSE:SOL) is well-positioned for growth. The stock s forward PE of 8.37 represents a 58% discount to its sector median of 20.09. Analysts expect the company to achieve 100% earnings growth this year and have a consensus Buy rating. Overall, Emeren (NYSE:SOL) ranks third on the list of the most undervalued solar stocks to buy according to analysts. However, the article suggests that AI stocks may hold greater promise for higher returns in a shorter timeframe. Disclosure: None. This article is originally published at Insider Monkey.
Source: insidermonkey.comPublished on 2024-10-06
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