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Goldman Sachs has identified promising stock opportunities within the energy sector, anticipating disruptions as President-elect Donald Trump takes office, with a focus on fossil fuel production over renewable energy. However, certain renewable energy stocks are expected to thrive, notably First Solar, which stands to benefit from potential tariffs due to its domestic manufacturing. Goldman has set a price target of $279 for First Solar, indicating nearly 46% upside, citing its strong growth potential and visibility for earnings per share (EPS) expansion through 2027. Another key player is Array, a manufacturer of solar panel tracking devices, which has a price target of $11, suggesting a 66% upside, thanks to a robust backlog.
NextEra Energy is also highlighted for anticipated renewables growth and clarity on Trump’s stance regarding the Inflation Reduction Act, with a target of $92, implying a 29% upside. In the oil and gas sector, Goldman favors ConocoPhillips, Kinder Morgan, and EQT Corp. for their strong fundamentals and growth, with targets of about a 30% increase, $29 (4% upside), and $59 (24% upside) respectively. Overall, Goldman presents a blend of renewable and conventional energy stocks poised for growth amid evolving market dynamics.
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