Canaccord Adams provides a few of its best green stock ideas to celebrate Earth Day.  Great investments in companies that are leading the green energy revolution.  Hat tip to Street Insider for the Canaccord comments.

Their water scarcity pick is Nalco (NLC) and they maintain their Buy rating.  “NLC capitalizes on climate change and water scarcity. We find Nalco fundamentally undervalued given powerful long-term secular global growth drivers including climate change and water scarcity. With a core competency in water treatment technology and an emerging presence in multi-pollutant air emission control, we continue to find the company uniquely positioned to benefit from an increasing focus on environmental impacts, while also providing critical productivity and process optimization solutions.”

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Their LED lighting play is Rubicon Technology (RBCN).  They maintain a Buy rating and call it a “Best Idea” play.  “The company is a leading supplier of sapphire substrates to the LED market with 25% market share based on our estimates. In our view, sapphire has become the clear bottleneck in the LED market based on the massive order trends over the past year of MOCVD tools, the trend of which is expected to continue.”

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Their green building play, NCI Building Systems (NCS), also gets a Buy rating and is a “Best Idea” play.  “NCI is growing as a result of the shift toward green building practices in non residential construction.  We view NCI as an interesting play on the steady shift toward green building practices in nonresidential construction. Representing approximately 10-12% of all new nonresidential construction projects in the US, green building represents the most significant building movement today.”

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