NEW YORK (TheStreet) - ReneSola (SOL), Trina Solar (TSL), JA Solar Holdings (JASO) and China Petroleum & Chemical (SNP) have upsides in the range of 18% to 82% based on analysts' consensus estimates of 12-month target prices.
The four Chinese energy stocks likely will benefit from the growing demand for energy worldwide. Global oil demand is expected to breach the peak pre-recession levels seen in 2007, according to Wood Mackenzie, the independent energy and metals research consultant firm. Emerging economies such as China are leading the recovery in energy demand, post-crisis. Diesel and gasoline demand are continuing to grow at around 8% annually in China, while global demand for crude oil grew 1.5% to 2% in 2010.
Clean Edge, a research and advisory firm dedicated to the clean energy sector, indicates that annual revenue from solar, wind and biofuels would increase from $145 billion in 2009 to around $345 billion in the next decade.These four stocks are trading at attractive forward price-to-earnings ratios in the range of 4 to 8. All four stocks received 65% to 86% buy ratings. The stocks are stacked in terms of percentage upside, great to greatest.
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