5 Most Promising Clean Energy Stocks According to Analysts

3. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 59

One-Year Average Price Estimate: $95.06

General Electric (NYSE:GE) has significant clean and renewable energy operations which makes it one of the most promising stocks in our list. General Electric (NYSE:GE) is combining its power and renewable energy business under the umbrella of GE Vernova.

Earlier this month, BofA analyst Andrew Obin said that General Electric (NYSE:GE)’s profit will rise more than expected amid the rising demand of jet engines. The analyst also praised General Electric (NYSE:GE)’s plans to improve its Vernova business. Obin said that he was “pleasantly surprised by the detailed plans for the Vernova turnaround.”

At the end of the fourth quarter of 2022, 59 hedge funds tracked by Insider Monkey reported owning stakes in General Electric (NYSE:GE).

Vulcan Value Partners made the following comment about General Electric Company (NYSE:GE) in its Q4 2022 investor letter:

“General Electric Company (NYSE:GE) recently spun off its health care businesses, General Electric HealthCare Technologies, which has leading market share positions in medical imaging products including MRI devices and CT scanners. General Electric’s remaining businesses include Aerospace and its Power and Renewables business. Aerospace is performing well and comprises the bulk of General Electric’s value in our opinion. We believe that the spin-off of General Electric HealthCare Technologies has highlighted the value of General Electric’s remaining business units. General Electric intends to spin out its Power and Renewables business unit early in 2024.”