• 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
  • Is the FTSE 100 a buy ahead of BoE and UK CPI data?
  • 3 takeaways after Wednesday’s FOMC Minutes release
  • Metropolitan Bank Holding (MCB) exits the crypto market
  • 2 reasons to buy UK equities in 2023, according to Schroders
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

What Is An Implied Volatility Crush

January 16, 2023

Shell share price analysis amid oil market woes

November 28, 2022

2 takeaways from the last NFP report of 2022

December 5, 2022

Tesla stock is still ‘egregiously overvalued’: Analyst

December 9, 2022

This market technician sees S&P 500 back at 4,625 this...

January 11, 2023

2023 US economic outlook given the Fed-induced economic recession

December 28, 2022

“Buy the close, sell the open” still rewards for carrying...

November 28, 2022

This tech stock more than doubled on Friday: here’s the...

December 16, 2022

American Airlines lifts Q4 guidance on ‘strong demand’

January 12, 2023

Curry’s share price comes back to earth: is it safe...

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 Set To Stay In A Defined Range Unless These Levels Are Taken Out; Drags Support Higher

      July 5, 2025
    • Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

      July 4, 2025
    • From Oversold to Opportunity: Small Caps on the Move

      July 3, 2025
    • Money’s Not Leaving the Market — It’s Rotating!

      July 3, 2025
    • Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

      July 3, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,629 views
    • 2

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

      June 27, 2024 2,913 views
    • 3

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

      August 9, 2024 2,603 views
    • 4

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

      July 10, 2024 2,569 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,445 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,163)
    • Investing (538)
    • Stock (2,653)

    Popular Posts

    • 1

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

      June 25, 2024
    • 2

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

      June 27, 2024
    • 3

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

      August 9, 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 Set To Stay In A Defined Range...

      July 5, 2025
    • Essence Fest leads a summer of events for Black entrepreneurs...

      July 4, 2025
    • From Oversold to Opportunity: Small Caps on the Move

      July 3, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,163)
    • Investing (538)
    • Stock (2,653)

    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

    Jim Cramer on Salesforce layoffs: ‘this...

    January 4, 2023

    Dogecoin drops 10% after Elon Musk’s...

    December 19, 2022

    Cramer double downs on Disney shares...

    November 29, 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