Goldman Sachs says one sector is the 'largest source of renewable energy in the world.' Here are some of its top stock picks.
Goldman Sachs is bullish on the bioenergy sector, calling it the "largest source of renewable energy in the world." In a Sept. 28 note, the U.S. investment bank pointed out that bioenergy has the "potential to decarbonize road, marine and air travel as well as heating, industry and power generation." Specifically, the bank's analysts, led by Michele Della Vigna, foresee growth in the areas of renewable diesel, sustainable aviation fuel, and renewable natural gas.
Stock picks Several global stocks are slated to benefit from this push toward sustainability and the transition to renewable energy, Goldman said. Among its top picks is Neste , which it describes as the "biggest renewable diesel and sustainable aviation fuel producer in the world." The bank has a buy rating on the Finnish oil refining and marketing company and expects it to have significant market share and healthy sustainable aviation fuel margins into 2025.
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