Oil companies aren't the obvious decarbonization plays as the COP26 conference kicks off in Glasgow. Here's what Morgan Stanley highlights.
World leaders are gathering in Glasgow — or in the case of the top carbon-dioxide emitter, China, by video link — for the United Nations 26th Conference of Parties, or COP26, to discuss climate change. Potentially, they may reach more ambitious 2030 and 2050 targets.
In fairness, the Morgan Stanley list isn’t entirely fossil fuel companies. SolarEdge Technologies SEDG, +0.88%, Sunrun RUN, +2.96%, QuantumScape QS, +13.94% and Tesla TSLA, +3.43% also make the brokerage’s list of overweight-rated companies that can benefit from decarbonization. Companies facing headwinds include Continental Resources CLR, -0.29%, Nabors Industries NBR, -11.62%, Ford Motor Co. F, +1.30% and American Airlines AAL, +0.05%, according to Morgan Stanley.
The U.S. economics calendar includes the Institute for Supply Management’s manufacturing gauge for October, as well as construction spending for September.
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