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Best Renewable Energy Stocks To Buy Now? 4 To Check Out

With the clean energy revolution underway, these renewable energy players could have more room to run.
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Do You Have These Top Renewable Energy Stocks On Your Radar Now?

As investors wonder about what stocks to buy today, renewable energy stocks are taking center stage. For the most part, many would argue that this section of the stock market holds plenty of long-term growth potential. After all, with the ongoing climate crisis rearing its head even during the current pandemic, there is a need for action. Particularly, action towards lowering our carbon footprints across the globe to combat the effects of global warming. With all this in mind, I can understand if investors are bullish on renewable energy stocks now.

If anything, the stock market today is filled with up-and-coming renewable energy stocks. On one hand, there are pure-play clean energy companies like Canadian Solar (NASDAQ: CSIQ) and Daqo New Energy (NYSE: DQ). The likes of which would stand to benefit directly from the general adoption of solar energy across industrial markets. Now, both companies’ shares are sitting on gains of over 170% since their pandemic era lows.

At the same time, the electric vehicle (EV) industry seems to be getting a boost from consumers and federal governments alike. This is evident as consumer demand is rising while President Biden aims to invest billions towards U.S. EV infrastructure. Because of these tailwinds, EV stocks have and continue to gain momentum in the stock market now. In fact, Faraday Future (NASDAQ: FFIE), an emerging EV company is set to make its stock market debut today. Given all of this, you might be keen to invest in the global green wave yourself. Should that be the case, here are four top renewable energy stocks making headlines now.

Best Renewable Energy Stocks To Buy [Or Avoid] Now

Clean Energy Fuels Corporation

Clean Energy Fuels (CLNE) is one of the largest providers of clean fuel for the transportation market. It strives to decarbonize transportation through the development and delivery of renewable natural gas (RNG). The company essentially allows thousands of vehicles to reduce their greenhouse gases. It also does this by operating a vast network of fueling stations across the U.S. and Canada. CLNE stock closed Thursday’s trading at $7.68 a share and is up by over 200% in the past year.

In May, the company announced new RNG contracts as fleets across North America increasingly continue to adopt the company’s clean, low-carbon fuel to power heavy and medium-duty trucks. “Fleets are learning that RNG, together with natural gas engine technology, is a proven solution that can significantly decrease the impact of harmful emissions and reduce greenhouse gas emissions,” said Chad Lindholm, vice president, Clean Energy Fuels. “Clean Energy’s corporate vision is directly tied to working with our customers to improve air quality and positively influence public health. We will continue to grow the role of RNG in our fuel offerings to provide a clean and cost-effective alternative to diesel fuel.” With that in mind, would you add CLNE stock to watch your watchlist now?

top renewable energy stocks (CLNE Stock)
Source: TD Ameritrade TOS

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General Motors Company

General Motors (GM) is a multinational company that designs and manufactures vehicles and vehicle parts. It is focusing on advancing an all-electric future as it unveiled its latest growth strategy earlier this year. Notably, it plans to invest over $25 billion in EV and autonomous vehicles (AV) products through 2025. It also plans to launch 30 new EVs globally by the end of 2025. At the heart of its strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. GM Stock currently trades at $55.64 a share as of the end of Thursday’s trading session.

On July 9, 2021, the company announced that it sustained strong momentum in China for the second quarter. GM and its joint ventures in China delivered more than 750,000 vehicles, an increase of 5.2% year-over-year. This growth was driven by luxury and premium vehicles and SUVs/MPVs that include the Cadillac CT5 and XT6, and Buick LaCrosse. Sales of its new energy vehicles across brands also posted a strong performance this quarter.

On July 2, 2021, GM also announced that it will source U.S.-based lithium for its next-generation EV batteries through a closed-loop process with low carbon emissions. Lithium is a metal crucial to GM’s plans to make more affordable and higher mileage EVs. All things considered, will you add GM stock to your portfolio?

top renewable energy stocks (GM stock)
Source: TD Ameritrade TOS

[Read More] Cheap Stocks To Buy? 4 Cloud Computing Stocks To Know

Enphase Energy Inc.

Enphase is a renewable energy company and the world’s leading supplier of micro inverter-based solar-plus-storage systems. Also, the company delivers smart, easy-to-use solutions that connect solar generation, storage, and energy management on one platform. Furthermore, the company has shipped over 34 million microinverters and approximately 1.5 million Enphase-based systems to over 130 countries. ENPH stock currently trades at $178.94 as of Thursday’s closing bell. The company will be announcing its second-quarter 2021 financial results on July 27, 2021, after the market closes.

On Tuesday, Barclays analyst Moses Sutton maintained a Buy rating on Enphase. The analyst also set a price target of $217 for the company which is over a 20% increase from its current price. In late June, the company launched its Encharge battery storage system in Germany, the product’s first expansion into a market outside of the U.S. The battery storage system offers configurations ranging from 3.5 kWh to 42 kWh, along with the option to upgrade and expand through the lifetime of the system. Given this exciting piece of news, is ENPH stock worth buying right now?

best renewable energy stocks (ENPH stock)
Source: TD Ameritrade TOS

[Read More] Best Stocks To Invest In 2021? 4 Dividend Stocks To Watch

Xpeng Inc.

Another name to know in the renewable energy space now would be Xpeng Inc. In brief, the company primarily focuses on the development and manufacturing of EVs. This Guangzhou-based EV maker is among the major players in the massive Chinese EV market. According to Deutsche Bank (NYSE: DB) analysts, EV sales in the country could likely double just this year. Notably, Xpeng’s delivery numbers for the second quarter appear to line up with this monumental growth. Earlier this month, the company announced that it had delivered 17,398 vehicles, a 439% year-over-year increase. With XPEV stock currently trading at $43.27 a share as of Thursday’s close, could it be a good investment now?

For one thing, Xpeng does not seem to be slowing down on the operational front right now. Just this week, the company unveiled the price range for its latest P5 smart sedan. At the low end, Chinese consumers can get their hands on the company’s latest EV for just over $24,700 (RMB 160,000). This move would be a timely one as Tesla (NASDAQ: TSLA) just launched a cheaper version of its Model Y EV which retails at over $38,700. With Xpeng coming in hot with its competitive pricing, I can understand if investors are watching XPEV stock closely. Will you be doing the same?

NYSE XPEV
Source: TD Ameritrade TOS

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Colgate-Palmolive Stock Gets Squeaky-Clean Appraisal

Home goods maker Colgate-Palmolive (CL) got a boost on Sunday, as Deutsche Bank offered some positive commentary on the stock. The shift makes Colgate-Palmolive just a little more attractive. The
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Home goods maker Colgate-Palmolive (CL) got a boost on Sunday, as Deutsche Bank offered some positive commentary on the stock.

The shift makes Colgate-Palmolive just a little more attractive. The combination of past performance, and a surprising extra feature, leaves me fairly bullish on Colgate-Palmolive overall.

Colgate-Palmolive's year has been fairly moderate so far. For most of the year, Colgate-Palmolive's share price has remained in a tight range between $76 and $84.

There have been a few breakouts above $84, but these seldom lasted long. One pronounced dip back in late February/early March kept the price below $76 for a while, but even here, it never got much lower than $74 for a closing price. (See Colgate-Palmolive stock charts on TipRanks)

Deutsche Bank analysts noted that many of Colgate-Palmolive's troubles are already priced into the stock. This is particularly true for inflation, an increasing concern worldwide.

Most investors, analysts noted, are focused tightly on issues of costs for companies like Colgate-Palmolive. Perhaps too tightly, Deutsche Bank's Steve Powers noted. Powers additionally noted that the improved focus on growth at Colgate-Palmolive isn't as appreciated as it should be.

Thus, Deutsche Bank not only hiked its recommendation (to a Buy from a Hold), but also its price target, going from $84 per share to $86 per share.

Wall Street's Take

Wall Street consensus analysis calls Colgate-Palmolive a Hold. This assessment has changed several times in the last year. As recently as September 2, Colgate-Palmolive was considered a Moderate Buy, which changed from being a Hold back on April 1.

Out of the nine analysts giving 12-month price targets on Colgate-Palmolive in the last three months, two consider the company a Buy, while seven call it a Hold.

The average Colgate-Palmolive price target is in a very narrow range. The current average price target is $88, which represents upside potential of 14.9%.

An Unexpected Income Champ

The overwhelming majority of analysts right now call Colgate-Palmolive a Hold, and with good reason.

Looking for Colgate-Palmolive to be a winner among growth stocks is about like looking for a rock to win the Kentucky Derby. The past year shows minimal movement in the company's share price overall. That's not great for anyone looking for growth value. For those looking for a safe, secure income stock, however, Colgate-Palmolive may be a winner.

A look at Colgate-Palmolive's dividend history shows an exciting upward trend. The company has raised its dividend every year for the last five years, and then some. Never by very much, granted.

Considering that we just went through a pandemic, a company that's hiking its dividend, even by cents per share, is a welcome sight.

Concluding Views

There's no doubt Colgate-Palmolive benefited from the pandemic, and the stock-up frenzy that followed. There's also no doubt that that benefit is gone now, as most of the world re-opens. Yet the need for soaps, toothpaste, and the like will never truly go away.

This consistent demand should make Colgate-Palmolive stock an attractive prospect for some time to come. Its regular — and regularly raised — dividend only sweetens an already attractive pot.

Disclosure: At the time of publication, Steve Anderson did not have a position in any of the securities mentioned in this article.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates, and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices or performance.

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Zoom-ing in on the Strengths and Threats of Zoom

Shares of video-communications provider Zoom (ZM) have plunged around 20% since it released its second-quarter fiscal 2022 results on August 30, pulling down the valuation of its impending all-stock acquisition
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Shares of video-communications provider Zoom (ZM) have plunged around 20% since it released its second-quarter fiscal 2022 results on August 30, pulling down the valuation of its impending all-stock acquisition of Five9.

Putting it into context, Zoom had inked a definitive acquisition agreement with Five9 back in July this year. Five9’s software products for contact centers, such as workforce management, speech recognition, predictive dialer, etc., are offered through a virtual contact center cloud platform, enabling inbound and outbound customer interactions in a single platform.

The deal is expected to close in the first half of calendar year 2022, helping Zoom penetrate the $24 billion global contact center market. If the acquisition materializes, Five9’s CCaaS (contact center as a service) solution will be integrated with Zoom’s broad communications platform.

However, the acquisition has a few hurdles to overcome, due to which I have a neutral stance on the stock. Needham analyst Ryan Koontz, who has been closely following Zoom’s developments for the past few weeks, identified a few key possibilities that can dampen the company’s growth efforts in the near future, and some upsides that may mitigate those risks.

For starters, the majority of Five9 shareholders are not too happy with the deal, and may either straight-out vote against the acquisition later this month, or make more demands. However, Koontz sees a possibility that Zoom might offer Five9 shareholders a mix of stock and cash worth around the original implied value of $200 per share. This might turn around the negative investor sentiment.

Koontz believes Five9 to be the only pure-play enterprise CCaaS company in the world, and its acquisition intention demonstrates that Zoom is looking at acquiring “adjacent-product, growth companies with well-established enterprise channels."

Again, although Zoom has displayed excellent efficiency and execution during the pandemic, one trend concerns the analyst. Koontz stated, “We are concerned that the growth at the low end, namely pro-sumer and small business customers, outpaced the expansion of the company's mid-market and enterprise business.” This low-end of the market typically sees a high level of customer churn, and may pose as a headwind before Zoom can grow its Events and Platform sales.

“We choose to wait for better insights into post-pandemic and new product trends before getting more constructive on the stock,” explained Koontz, maintaining his Hold rating on the stock.

Koontz notes that there is a likelihood of Zoom shifting its focus from the contact center to its new Events strategy. He believes that the company can achieve scale in this area by taking the path of strategic acquisitions.

“We view the events industry as highly complex and a key area where Zoom could benefit from acquiring complementary, non-video centric products, staff, and industry know-how to more quickly establish the deep ecosystem required for enterprise-scale events,” he said, pointing at the announcement of a possible investment in event marketing and management company Cvent.

Notably, Koontz looks at Cvent as a more favorable acquisition candidate for Zoom, as against virtual events companies Kaltura (KLTR) or On24 (ONTF), which are not as advanced in enterprise channel development as Cvent.

The consensus rating for Zoom is a Moderate Buy, based on 10 Buys and 8 Holds. The average Zoom price target of $375.85 indicates an upside potential of 35.08%.

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.

Disclosure: At the time of publication, Chandrima Sanyal did not have a position in any of the securities mentioned in this article.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates, and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices or performance.

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Intel Stock: Deep Value Hidden in Plain Sight?

It’s been a gruelling past few years for Intel (INTC) stock, which really lost a step to the competition. Playing a game of catch-up in the technology industry, or not
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It's been a gruelling past few years for Intel (INTC) stock, which really lost a step to the competition.

Playing a game of catch-up in the technology industry, or not being on the absolute cutting-edge, may not be the best place to be as an investor. It is worth noting, however, that Intel stock has modest expectations priced in, with a relatively low bar ahead of it.

Intel has made moves to keep the company moving forward amid continued COVID-19 pressures. Still, I'm inclined to remain neutral on shares, as the competitive landscape looks quite harsh. (See INTC stock charts on TipRanks)

Competitive pressures could really pick up over the coming years, as AMD (AMD) continues to gain momentum, while other tech giants, such as Apple (AAPL), opt to ditch Intel CPUs to build their own.

Undoubtedly, the main reason to scoop up Intel is for its dirt-cheap multiple. A depressed price-to-earnings multiple (Intel shares trade at 12.1 times trailing earnings) doesn't mean much if there's no ambitious game plan, or a competent management team to pull off such a plan, though.

Fortunately, new Intel CEO Patrick Gelsinger may have what it takes to get Intel back to the cutting edge.

Intel's Plan

After fluctuating for years around a fairly wide channel of consolidation, Intel needs a spark.

The company has a roadmap that could bring the company back to the top as soon as 2025. In late July, Intel shed more light on its plans. It included some pretty eyebrow-raising innovations. Even if Intel can't re-gain the lead in four years, it can still close the gap in a big way.

When it comes to CPUs, it seems like a race to the bottom in terms of the nanometer process. With Apple's 5nm M1 chips already on the market, Intel's 10nm chips don't look too hot.

However, such numbers don't tell the whole story. Intel's 10nm chips still hold up well against AMD's 7nm chips.

Wall Street's Take

According to TipRanks’ consensus analyst rating, INTC stock comes in as a Hold. Out of 26 analyst ratings, there are nine Buys, 10 Holds, and seven Sells.

The average INTC price target is $61.14. Analyst price targets range from a low of $40 per share, to a high of $85 per share.

Bottom Line

With a 2.6% dividend yield, Intel is one of those contrarian value stocks that will reward investors for their patience.

With a compelling roadmap, there is a pathway for Intel to get back to where it was: a dominant behemoth in the hardware space.

Whether management can push Intel to walk that path is another question entirely.

Disclosure: Joey Frenette owned shares of Apple at the time of publication.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates, and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices or performance.

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