Stocks Mixed Over Past Year As Some Sectors Face Challenges
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The stock market is up over the past year, but some sectors like renewable energy and utilities are in bear markets with double digit drops over 12 months.
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Telecommunications stocks have also dropped, with the sector index down 6.78% amidst debt and lead cable exposure issues. AT&T shares sank 16% in July 2023 on lead cable risks.
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Analysts are optimistic about certain falling stocks like Liberty Broadband, Sunrun, and Sunnova Energy in the utilities and solar sectors, with substantial upside to price targets.
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Payoneer Global, First Solar, Shoals Technologies and Array Technologies are solar or software stocks down over 20% that analysts rate as Strong Buys on average.
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Other telecom and utility stocks like Iridium Communications, TransAlta, and Vodafone are heavily shorted stocks with high analyst upside despite multi-year stock drops.