JPMorgan: Energy Stocks Still Have Room To Run

The S&P Energy Index, lagging the oil price rally, still has room to run, according to a JPMorgan Chase & Co strategist who called the energy stocks rally at the beginning of this year. According to Bloomberg, Dubravko Lakos-Bujas was one of the lone energy stock bulls at the start of this year.

But energy stocks have surged 50% since then. And according to Lakos-Bujas, it isn’t over. Oil prices have returned to pre-pandemic levels—and then some. In fact, oil prices are 25% above pre-covid levels. Brent prices were trading just…