• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Sophie Karp names her top stock for renewables exposure
Investing

Sophie Karp names her top stock for renewables exposure

by December 29, 2022
by December 29, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

First Solar Inc (NASDAQ: FSLR) has already more than doubled over the past six months but a KeyBanc expert recommends sticking to it as it still has more upside that’s yet to unlock.

First Solar stock to benefit from the IRA

Sophie Karp is convinced that this American manufacturer of solar panels will be a key beneficiary of the “Inflation Reduction Act”. On CNBC’s “Fast Money”, she said:

First Solar is the best way to get exposure to renewables. It’s definitely ahead of competition on domestic capacity additions that would benefit from the IRA. I believe they’ll announce additional expansion in the near term.

The federal law promises more than $300 billion investment into clean energy, which is why Karp is constructive on solar equipment makers at large.

Karp recommends buying First Solar stock and sees upside in it to $175 – up another 20% from here.

First Solar stock is still inexpensive to own

Karp also likes First Solar stock for its strong balance sheet. It’s the 8th best performing name in the S&P 500 this year and yet, she does not find it expensive to own.

Despite being up 80% year-to-date, it still seems attractive on valuation. It’s trading at 15 times price to earnings multiple on 2024 numbers. They’re one of the best positioned names to harvest all the tax benefits from the IRA.

Last month, the Nasdaq-listed firm agreed to supplying an additional 4,900 megawatt of its thin film photovoltaic modules to Intersect Power.

It is noteworthy, though, that First Solar Inc was shy of Street estimates in its latest reported quarter.

The post Sophie Karp names her top stock for renewables exposure appeared first on Invezz.

You Might Also Like
  • U.S. job market is still very hot: what to expect from stocks next week?
  • Why You Should Never Use a Stop Loss in Options Trading
  • Silvergate CEO says short-sellers spreading misinformation
  • Netflix ad-supported tier is not off to a great start: report
Share
0
FacebookTwitterPinterestWhatsapp

previous post
These two stocks could benefit from Southwest Airlines flight cancellations
next post
3Commas admits to API keys leak after anon reveals database

You may also like

High Probability Strategy: A Holy Grail of Options Trading?

March 24, 2023

Metropolitan Bank Holding (MCB) exits the crypto market

January 9, 2023

Cramer’s top three bank stocks for 2023

December 21, 2022

CAC 40 index forecast after S&P cuts France’s outlook to...

December 4, 2022

Should you buy Walgreens stock on market-beating Q1 results?

January 6, 2023

Is it safe to buy Baron Oil shares amid the...

December 27, 2022

This analyst sees another 16% downside in S&P 500

January 5, 2023

Boeing lands the largest order for wide-body aircraft in U.S....

December 13, 2022

Short Gamma vs. Long Gamma

January 27, 2023

Dogecoin drops 10% after Elon Musk’s Twitter CEO poll

December 19, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,309 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Delta Neutral Trading: What Not to...

    April 2, 2023

    SteadyOptions 2024 – Year in Review

    January 5, 2025

    Pro: Tesla stock is not a...

    December 20, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here