"Top Utility Picks for 2024: Guggenheim's Recommendations Revealed"
Guggenheim analyst Shahriar Pourreza believes that utilities stocks are undervalued and poised for a comeback in 2024, citing factors such as valuation, interest rates, and renewable energy deployment. He recommends NextEra Energy (NEE) as a top pick, citing oversold position and potential catalysts. Eversource Energy (ES) and Edison International (EIX) are also highlighted as smart bets, with potential upsides of 36% and 25% respectively, according to Pourreza's analysis. Despite recent challenges, these utility companies continue to show resilience and long-term growth potential.