5 Best Alternative Energy Stocks To Buy Now

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1. Tesla Inc. (NASDAQ:TSLA)

Hedge Fund Holdings: 79

Based in Austin, Texas, Tesla Inc. (NASDAQ:TSLA) is an American multinational automotive and clean energy company which manufactures electric vehicles, stationary battery storage devices from home to grid-scale, solar panels, and other related products. On October 19, RBC analyst Tom Narayan lowered the price target on Tesla Inc. (NASDAQ:TSLA) to $301 from $305, and sustained a Buy rating on the shares. The analyst pointed to the drop in Tesla’s (NASDAQ:TSLA) stock price post a disappointing Q3 earnings announcement, saying that margin compression is transitory and investors need to capitalize on the stock’s low valuation. Narayan maintained that the margin compression is due to price cuts, rising inflation, and high borrowing costs which have dented the company’s bottom-line. However, as the economy rebounds, Tesla’s (NASDAQ:TSLA) fundamental backdrop is projected to improve, leading to an eventual surge in share valuation. The $220-200 range is an incredibly promising long-term entry level for Tesla Inc. (NASDAQ:TSLA).

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