As Trump Backs 'Drill Baby, Drill,' His DOGE Co-Lead Elon Musk Believes 'All Energy Generation Will Be Solar' — Here's What UBS Recommends After Election Dip

Renewable energy stocks present a buying opportunity despite recent electoral headwinds, according to UBS analysts, while Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk continues to advocate solar power’s future dominance.

What Happened: UBS analysts on Thursday elevated U.S. and EU renewables to their top-ranking stock theme, citing an attractive entry point following steep post-election losses, reported Business Insider.

The announcement comes as clean energy shares have tumbled, with companies like Plug Power Inc. (NASDAQ:PLUG) and Enphase Energy Inc. (NASDAQ:ENPH) down over 24% since President-elect Donald Trump‘s victory.

“The environment of an unrelenting power demand shock puts just about every source of power generation in a solid position to capitalize,” UBS analysts wrote, pointing to surging power needs from artificial intelligence data centers and corporate sustainability goals.

The analysts remain optimistic despite Trump’s expected scaling back of President Joe Biden-era clean energy initiatives. They argue that companies could “grandfather” existing ...

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