Roth/MKM Affirms Enlight Renewable Energy (ENLT) is a ‘Buy’ on Strong Growth Prospects

Enlight Renewable Energy Ltd (NASDAQ:ENLT) is one of the best alternative energy stocks to buy right now. On August 7, Roth/MKM reiterated a ‘Buy’ rating on the stock and raised the price target to $28 from $23. The price target hike is in response to the company’s solid second-quarter financial results, which include an upward revision to 2025 guidance.

Roth/MKM Affirms Enlight Renewable Energy (ENLT) is a ‘Buy’ on Strong Growth Prospects

A wind farm with turbines rotating in unison, showing the power of renewable energy.

The company has been firing on all cylinders, as evidenced by an impressive gross profit margin of 76.6% and a revenue growth rate of 39.54% over the last 12 months. It has also safely harbored 6 gigawatts of its portfolio and is on course to reach between 6.5 and 8 GW before July next year.

Enlight Renewable has already secured $310 million in financing agreements, which are expected to support the expansion of the Gecama Wind Project in Spain. The project aims to establish the largest hybrid renewable energy complex in the country.

Enlight Renewable Energy Ltd (NASDAQ:ENLT) is an alternative energy company that develops, constructs, finances, and operates large-scale renewable energy projects. It focuses on solar, wind, and energy storage. It is also a leading independent power producer with a diverse global presence across three continents.

While we acknowledge the potential of ENLT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENLT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.