NEW YORK ( TheStreet) -- Uranium Resources (URRE), Ur-Energy (URG - Get Report), Uranerz Energy (URZ), Denison Mines (DNN - Get Report), Hitachi (HIT), General Electric (GE - Get Report), USEC (USU), and Fluor (FLR) are nuclear stocks with potential upside of up to 148%, calculated on analysts' average 12-month price targets.
The tremendous pressure on fossil fuels worldwide improves the prospects of nuclear energy as a critically important source of electricity generation. Nuclear energy supplies 16% of the world's electricity and meets up to 20% of U.S. electricity demand. According to the World Nuclear Association, nuclear reactor count stood at 544, including under-construction, planned and proposed reactors.
We have identified stocks that could benefit from growing emphasis on clean energy. However, these stocks corrected in the aftermath of the nuclear crisis in Japan and lost an average 7% during the last one week. Nonetheless, considering growing power demand from developing economies, these stocks have potential to deliver attractive returns in the long term. Analysts' consensus estimate indicates 10%-147% upside for these stocks over the next one year.