JPMorgan Picks Two 'Defensive' Clean Tech Stocks as 2025 Top Picks

JPMorgan has identified two "defensive" clean tech stocks as its top picks for 2025: EVgo (EVGO) and Enovix (ENVX). The firm views EVgo as well-positioned for growth despite negative sentiment, and expects Enovix to see improved sentiment as it executes on commercial and manufacturing milestones. JPMorgan also has Neutral ratings on Plug Power (PLUG) and Archer Aviation (ACHR), and Underweight ratings on ChargePoint (CHPT) and Joby Aviation (JOBY), with an Overweight rating on Blade Air Mobility (BLDE).

As the world continues its transition to a more sustainable future, clean tech stocks have emerged as key players in this evolution. According to JPMorgan, two such companies, EVgo (EVGO) and Enovix (ENVX), have been identified as top picks for 2025 [1].

EVgo, a leading electric vehicle (EV) charging network, is poised for growth despite negative sentiment. With the adoption of EVs on the rise, EVgo's charging stations are expected to see increased traffic, driving revenue growth. The company's expanding customer base and supportive government policies promoting charging infrastructure make it a solid investment for the future [1].

Enovix, a battery technology company, is another clean tech stock that JPMorgan is bullish on. While sentiment towards Enovix has been mixed, the company is expected to see improved sentiment as it executes on commercial and manufacturing milestones. Enovix's focus on advanced lithium-ion batteries positions it well for significant growth in the coming years [1].

JPMorgan has a Neutral rating on Plug Power (PLUG) and Archer Aviation (ACHR), and Underweight ratings on ChargePoint (CHPT) and Joby Aviation (JOBY). However, the firm has an Overweight rating on Blade Air Mobility (BLDE) [1].

Plug Power, a hydrogen fuel cell company, is expected to benefit from the anticipated finalization of the IRA 45V production tax credit guidance. This could unlock stalled projects, particularly electrolyzers, and drive higher revenue growth [1].

As sustainable investing continues to evolve, clean tech stocks like EVgo and Enovix are expected to benefit from macro tailwinds. With governments and businesses increasingly focused on reducing their carbon footprint, the demand for sustainable solutions is likely to continue growing.

References:
[1] Benzinga. (2023, February 13). Plug Power, EVgo among JPMorgan's top sustainable picks for 2025. Retrieved February 13, 2023, from https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42250648/plug-power-evgo-among-jpmorgans-top-sustainable-picks-for-2025