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Clean energy stocks have come under pressure this year following a record-setting 2020, but experts said supportive policies from the White House could provide gains across the sector.
Valuations on these companies are also looking more attractive because of a recent pullback in the sector, analysts said.
“Alt Energy stocks have undergone a correction…but fundamentals remain very good, and arguably got better with the unveiling of the Biden infrastructure plan, so we think the pullback presents a buying opportunity broadly,” JPMorgan said last Thursday.
President Joe Biden unveiled his $2 trillion infrastructure plan last week, which includes hundreds of billions of dollars aimed at climate change-related measures.