In this article, we look at the 10 Best Electrical Equipment Stocks to Buy According to Analysts.
The electrical equipment industry is tied to a power system that is expanding, decentralizing, and becoming more capital-intensive. In World Energy Investment 2026, the International Energy Agency said global energy investment is expected to reach $3.4 trillion in 2026, with about $2.2 trillion directed toward renewables, nuclear, grids, storage, low-emissions fuels, efficiency, and electrification. That spending backdrop is being reinforced by electricity demand growth rather than clean-energy policy alone. In its Electricity 2026 report, the IEA forecast global electricity demand to grow at an average annual rate of 3.6% from 2026 through 2030, supported by industry, electric vehicles, air conditioning, and data centers.
Grid capacity remains a constraint. The IEA said more than 2,500 GW of renewables, storage, and large-load projects, including data centers, are sitting in grid connection queues worldwide. Meeting demand through 2030 would require annual grid investment to rise roughly 50% from today’s $400 billion level. AI-related load adds another layer of pressure: the IEA’s Energy and AI analysis projected global data-center electricity consumption to roughly double to around 945 TWh by 2030. These trends point to durable demand for equipment used in power conversion, grid modernization, storage, backup power, and electrification, while project delays, supply-chain limits, and regulation remain key constraints.
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Methodology
We shortlisted electrical equipment and electrification-hardware stocks with at least 20% consensus upside based on analyst price targets. We excluded stocks where upside appeared driven by only one or two unusually aggressive analysts. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment.
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10. TE Connectivity plc (NYSE:TEL)
TE Connectivity plc (NYSE:TEL) is one of the Best Electrical Equipment Stocks to Buy According to Analysts. On June 8, Bell Global Equities Fund highlighted TE Connectivity as a new portfolio addition in its first-quarter investor letter. The fund framed TE Connectivity as a global leader in electrical connectors, with demand tied to components that move power, signal, and data across electric vehicles, factory robots, and hyperscale AI server racks.
That makes the story relevant to electrical equipment because connectors and sensors sit inside the physical layer of electrification, automation, and data-center buildouts, rather than relying on a broad power-demand narrative. The fund said this positioning could support double-digit revenue growth and margin expansion over the medium term. It also pointed to TE Connectivity’s free cash flow and shareholder returns, including a 10% quarterly dividend increase and a $3 billion expansion of its share repurchase program earlier this year.
TE Connectivity plc (NYSE:TEL) designs and manufactures connectors, sensors, relays, antennas, wire and cable products, and other components used in transportation, industrial, communications, data-center, medical, and energy applications.
9. Vicor Corporation (NASDAQ:VICR)
Vicor Corporation (NASDAQ:VICR) is one of the Best Electrical Equipment Stocks to Buy According to Analysts. On June 22, Needham maintained a Buy rating on the stock and raised its price target to $400 from $350 after Vicor’s 2026 annual meeting. The note pointed to a larger long-term financial model, with management lifting its revenue target to $2.5 billion from a prior $1.0 billion, alongside 70% gross margin and 40% operating income targets. The rating is relevant to the electrical equipment theme because Vicor’s growth case is tied to high-density power conversion, a bottleneck area as AI systems and advanced computing platforms draw more power at the rack and board level.
Needham also highlighted an improved second-generation VPD solution expected to sample to Cerebras in the first quarter of 2027, as well as possible second-generation VPD design wins with existing licensees that could ramp in late 2027, upside to licensing and royalty revenue, and progress toward a second ChiP fab.
Vicor Corporation (NASDAQ:VICR) designs and manufactures modular power components and power systems used in computing, communications, industrial, automotive, aerospace, and defense electronics.
8. Itron, Inc. (NASDAQ:ITRI)
Itron, Inc. (NASDAQ:ITRI) is one of the Best Electrical Equipment Stocks to Buy According to Analysts. On June 15, Itron said it is working with Watercare Services on New Zealand’s largest smart water meter upgrade. The project will replace mechanical meters with 100,000 Itron Intelis wSource digital water meters, as part of Watercare’s broader plan to connect almost 500,000 smart meters across Auckland.
While the release is water-focused, it still fits Itron’s utility-infrastructure profile because the same business model centers on connected devices, meter data, sensors, and communications networks used by utilities to manage essential resources. Itron said the meters will use an NB-IoT network to provide frequent and accurate consumption data, helping Watercare improve leak detection, billing accuracy, and asset visibility. The company also said the meters are designed to operate for 15 years with minimal maintenance, even in Auckland’s harsh marine environment, supporting a long-duration hardware deployment model for utility customers.
Itron, Inc. (NASDAQ:ITRI) provides intelligent infrastructure solutions, including meters, sensors, communication networks, data management software and grid-edge technologies for electric, gas, water and smart-city customers.
7. Nextpower Inc. (NASDAQ:NXT)
Nextpower Inc. (NASDAQ:NXT) is one of the Best Electrical Equipment Stocks to Buy According to Analysts. On May 28, Nextpower announced a definitive agreement to acquire Prevalon Energy, a U.S.-headquartered battery energy storage systems provider, for up to $365 million. The transaction expands Nextpower beyond solar tracking into BESS, energy management software, and critical power infrastructure for utility grids, AI data centers, and industrial power systems.
Prevalon brings more than 6 GWh of BESS systems deployed globally and 1.3 GW of firm supply contracts supporting AI and hyperscaler data-center infrastructure deployments. The company also raised its fiscal 2027 outlook, now expecting revenue of $4.0 billion to $4.4 billion, compared with its prior $3.8 billion to $4.1 billion range. The analyst angle followed quickly: RBC Capital said on May 29 that the planned Prevalon acquisition pairs well with Nextpower’s inverter business, while keeping an Outperform rating and lifting its price target to $149 from $146.
Nextpower Inc. (NASDAQ:NXT) provides solar trackers, foundations, electrical balance-of-systems, power conversion, energy storage, controls, and software solutions for utility-scale solar and power infrastructure projects.
6. Plug Power Inc. (NASDAQ:PLUG)
Plug Power Inc. (NASDAQ:PLUG) is one of the Best Electrical Equipment Stocks to Buy According to Analysts. On June 24, Plug Power said it completed commissioning of a 5 MW GenEco PEM electrolyzer system at European Energy’s Måde Power-to-X facility in Esbjerg, Denmark. The milestone is relevant to the electrical equipment theme because electrolyzers convert renewable electricity into hydrogen, making them part of the hardware layer behind industrial electrification, storage, and low-carbon fuel production.
Plug Power said the work included installation, commissioning, site acceptance testing, and handover, bringing one of Denmark’s early operational PtX sites into active hydrogen production. At full capacity, the facility is expected to produce about 550 metric tons of green hydrogen annually, with output certified as RFNBO under the ISCC scheme. Plug also said the containerized design reduced on-site complexity, while its more than 70 operating GenEco electrolyzer systems across six continents support a more standardized deployment model.
Plug Power Inc. (NASDAQ:PLUG) designs, builds, and operates hydrogen production, storage, delivery, and power-generation systems, including electrolyzers, fuel cells, and hydrogen infrastructure for material handling, industrial, and energy markets.
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