These global stocks will soar on an $858 billion electric boom, Goldman says, giving one 45% upside

Demand for power and data centers has been surging, and several companies in Europe are set to benefit, according to Goldman Sachs. Europe's power demand is expected to rise by as much as 50% in the next 10 years, reversing the slump it has been facing since 2008, the investment bank's analysts wrote in an April 29 research note. They project that 800 billion euros will be spent on Europe's power transmission and distribution, thanks in part to "years of under-investment.

Reasons for the bank's buy rating on the stock include Germany's electrification push and retail margins that it says are "likely to be well supported" by falling energy prices. Goldman expects E.on to deliver "middle-single-digit over 2023-28E." SSE Scottish energy giant SSE is on Goldman's radar following its recent update confirming "its story of renewed growth." "The company now details a £20.

Source: News Formal (newsformal.com)

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