5 Stocks to Buy if Harris Wins the Election and 5 to Sell

The stock market rose to record highs since Kamala Harris entered presidential race in July. Will the good mood continue if she wins the White House? The answer may vary depending on the sector.

Luck polled analysts and academics about which stocks could rise if Harris wins, as well as which stocks could fall. Here are some companies to keep in mind:

What to buy

Harris and former President Donald Trump sharply different when it comes to climate and energy policy. As vice president, Harris cast the decisive vote in favor of the legislation. Inflation Reduction Act. Joe Biden’s climate bill passed without any Republican support, and Trump vowed to destroy what he called the “new green scam” of tax credits and subsidies.

It’s unclear whether Trump can deliver on those campaign promises, but a Harris victory would likely be much better news for renewable energy. Shares First sunnyAmerica’s largest solar panel maker fell 16% this month amid industry turmoil and election uncertainty. A Harris win could reward investors who bought the dip.

A Harris administration could also help electric vehicle makers looking to take on Elon Musk. Teslaespecially since the CEO of the electric vehicle giant has expressed his opinion full support behind Donald Trump. Musk’s political activism, including his public spat with California officials, has already provided an opportunity for companies like Rivian To take away dissatisfied progressive clients. Musk appears to be betting on Tesla’s future autonomous drivingGovernment subsidies and tax breaks are critical to the chances of companies like Rivian to compete.

Offshore wind is also expected to benefit from Harris’ victory. Spanish energy giant Iberdrola has invested more than $13 billion flowed into the US and UK in the last 12 months, leading to a 150% rise in profits in the first nine months of the year. Its American branch Avangridis available at a modest price-to-earnings ratio of just above 12, according to S&P Global.

There are also less obvious options. Defense contractor stocks such as Honeywellfor example, several moved in tandem with chances Harris win, according to preliminary analysis by Michael Bailey of Georgetown University. This may reflect what Harris appears to be safer bet Continue American support for Ukraine against Russian invasion.

Finally, Harris’ victory could allow major importers to breathe a sigh of relief. Trump offers At least a 10 percent global tariff and a 60 percent tax on all Chinese goods would not be good news for major retailers like TargetSo a win for Harris could negate the concerns that are currently built into its stock price.

See also: 5 stocks to buy if Trump wins, and 5 to sell

What to sell

Some analysts are highly skeptical of a trade based on who occupies the Oval Office. These include Jay Hatfield, CEO of Infrastructure Capital Advisors, who is much more focused on how overall tax policy, including corporate tax ratemay affect the market as a whole.

But even he said finance is at the center of the so-called “Trump trade” because of the prospect of looser regulation. JP Morgan Chase And Goldman Sachs These are two stocks that investors could invest in if Trump wins, and a Harris win could trigger a sell-off.

However, stocks that are heavily impacted by climate policy may be worth considering. Harris is clearly the best bet for renewables, and companies in sectors such as offshore oil, coal and foreign-produced solar could be among the biggest losers, said Sam Stovall, chief investment strategist at CFRA Research.

Therefore the oilman Schlumberger This could be a stock to stay away from if Harris takes over the White House, Stovall said. The same goes for Console Energy“,” he added, “one of the biggest names in the coal industry.”

Although the Harris administration may be kinder Compared to Biden and Big Tech, Companies Focused on the Gig Economy May Be at Risk, According to Note Bank of America saw CNBC. Investors may try to escape UberFor example, if the vice president is promoted by the American people.

This story was originally published on Fortune.com