Gurus: Top Alternative Energy Stocks

"For investors, the issue is not whether climate change is occurring," Kerschner writes. "Today, a variety of entities are reacting to the perceived climate change threat, creating a number of near-term opportunities."

Kerschner's 120-page report identifies 74 companies in 21 industries and 18 countries that seem positioned to benefit including "classic" alternative energy names such as Evergreen Solar, SunPower, Ormat Technologies (ORA), and Suntech Power (STP).

In addition, his list includes other areas with climate change opportunity, such as the examples below:

U.S. natural gas exploration and production companies such as Chesapeake Energy (CHK), Southwestern Energy (SWN) and XTO Energy (XTO);

Farm-equipment suppliers including Deere (DE) and Potash (POT);

Agricultural biotechnology companies such as Archer Daniels Midland (ADM) and Bunge (BG);

Select U.S. property insurers such as ACE Limited (ACE) and Arch Capital Group (ACGL);

Companies focused on building energy efficiency such as Itron (ITRI), ESCO Technologies (ESE) and Johnson Controls (JCI).

(Among the aforementioned, Citigroup has investment banking relationships with ACE, Archer Daniels Midland, Bunge, Constellation Energy, Deere and Johnson Controls.)

Kerschner was a guest on TheStreet.com TV Tuesday. Click here for more of his insights on those (and other) names, as well as his broader thematic approach to an issue that's rapidly becoming a focus for more than just the "loony left."

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