These names supply upside, says Raymond James

Wind generators spin throughout a winter storm close to Palm Springs, California, March 10, 2021. Mike Blake | Reuters The primary-quarter decline in clear expertise shares is a “regular, wholesome pullback” and presents a possibility for traders, stated Raymond James in a analysis observe. “When you missed the boat in 2020, an opportunity to get


Wind generators spin throughout a winter storm close to Palm Springs, California, March 10, 2021.

Mike Blake | Reuters

The primary-quarter decline in clear expertise shares is a “regular, wholesome pullback” and presents a possibility for traders, stated Raymond James in a analysis observe.

“When you missed the boat in 2020, an opportunity to get in,” wrote analyst Pavel Molchanov within the observe to shoppers.

After gaining greater than 200% throughout 2020 the WilderHill Clear Power Index, which tracks the area, dipped almost 5% throughout the first quarter. The S&P 500, then again, gained 6%.

“To state the apparent, nothing goes up in a straight line. Extra to the purpose, loads of the names had been in overbought territory…and a few profit-taking was emphatically to be anticipated,” the Raymond James observe stated.

The agency pointed to a number of causes behind the declines, together with a rotation away from growth-oriented areas of the market.

Wanting ahead, whereas Raymond James does see upside for the business, the agency reiterated that clear tech is a inventory picker’s market. In different phrases, the sector should not be purchased as a complete. Moderately, traders ought to consider firms on a person foundation.

Key elements to contemplate embody product combine, margin construction and geographic footprint. The agency famous that for some names throughout the business, the not too long ago unveiled $2 trillion infrastructure plan might be the “icing on the cake” for already strong progress tales.

With that in thoughts, listed here are a few of Raymond James’ picks:



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