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Morgan Stanley says selloff in the clean tech industry overdone; upgrades ratings

Thu 19 Oct 23, 02:23 PM | Akanksha Vashisht

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Summary

Broker Morgan Stanley upgraded its view on the clean tech industry, stating the stock selloff caused by concerns of higher interest rate as the main reason to do so. The broker upgraded some of the stocks in the industry, centered around this positive outlook.

Morgan Stanley stated that even though problems such as delays in permits, supply chain issues, and industry-wide risks exist, people still want renewable energy. The broker believes that the current prices make it a good time for investors to get in.

Morgan Stanley upgraded ratings on Array Technologies and Hannon Armstrong, based on its positive view of the sustainable tech sector. The following section contains a closer examination of these companies and the broker’s ratings on them:

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