Top tech stocks to buy now plus#

as its Model 3 and Model Y cars will be eligible for tax credits under the Inflation Reduction Act. Together with its recently announced price cuts, Tesla should 'see strong demand growth even in an economic slowdown,' writes Morningstar analyst Seth Goldstein in a research note, especially in the U.S. In 2023, the far-and-away market share leader in electric cars expects 1.8 million automobiles to be delivered in 2023, representing 31% year-over-year growth. Not often undervalued, shares of Tesla ( TSLA, $183.25) currently are downtrodden due more to the vicissitudes related to CEO Elon Musk's misadventures running Twitter than the health of the business itself. Median price target: $219.00 (19.5% implied upside).The latter acquired it out of bankruptcy in 2018 and reportedly shored up its earnings before the sale. The acquisition is expected to close in the second half of 2023.īrookfield and partners bought Westinghouse from BEP's sister private equity company Brookfield Business Partners. 'Westinghouse is well positioned to capture the increasing global tailwinds for nuclear,' according to Brookfield.

Top tech stocks to buy now plus#

Westinghouse services about half the global nuclear power generation sector and is the original equipment manufacturer to more than half of the global nuclear reactor fleet.īrookfield said it expects the acquisition to cost around $4.5 billion plus the assumption of debt, with Brookfield and its partners owning 51% of Westinghouse while Cameco will hold the rest. The company said it believes nuclear power and hydroelectricity are 'the only forms of clean, dispatchable, baseload power generation and will be a key enabler of the rapid growth of intermittent solar and wind.' 'Corporate clean energy demand, low-cost energy profile, electrification, and energy independence continue to be key trends accelerating renewable deployment,' the company said in its 2022 earnings release.īut what's more, Brookfield is positioning itself to be one of the best stocks to buy in the in nuclear power field.īrookfield and its institutional partners formed a strategic partnership with Cameco ( CCJ) to acquire Westinghouse, one of the world's largest nuclear services businesses. It is part of Brookfield Asset Management, which manages $800 billion in assets. The company has a track record of investing in and operating high-quality renewable energy assets. Median price target: $32.45 (11.1% implied upside)īrookfield Renewable Partners ( BEP, $29.20) is a renewable energy company that operates hydroelectric, wind, utility-scale solar and storage facilities in North and South America, Europe and Asia.legislation provides a backdrop of more certainty around timing of wind-related projects, and a combination of better project selectivity, a focus on the North American market, and rightsizing should help drive the profits GE investors have long been clamoring for.' While GE Vernova is still incurring losses, Aguilar believes Strazik can drive the unit to profitability next year and break even in renewables in 2026. 'We think there's increased opportunity for GE to shift from debt reduction to other capital allocation options that favor the shareholder, and provide the firm with increased flexibility to shift to offense,' the analyst writes in a note. Morningstar analyst Joshua Aguilar says General Electric CEO Larry Culp is engineering a successful turnaround of GE 'yet investors assign no value to GE Vernova.' Moreover, GE has 'materially reduced its debt burden by over $100 billion' under Culp.

In early 2023, the healthcare spinoff was completed. Vernova's spinoff is part of GE's plan to divide itself into three companies focused on aviation, healthcare and energy.

The Inflation Reduction Act is expected to give a lift to Vernova, as it should for other green energy stocks too. Vernova's businesses include onshore wind turbines with rated capacities of 2 to 6 megawatts (MW) for different environments, offshore wind with 6 to 14 MW capacities for tougher conditions, hydropower generation, hybrid renewable energy and storage, grid solutions and related solutions. He has said that the focus of Vernova would be to address climate change and foster sustainable development. GE Vernova will incorporate General Electric's operations in renewables, power, digital and energy financial services under the leadership of CEO Scott Strazik. But the early 2024 spinoff of its GE Vernova unit is expected to change all that. The name General Electric( GE, $89.92) does not exactly evoke the image of renewable energy.

Median price target: $97.00 (7.8% implied upside).

Industry: Specialty industrial machinery.