Russia's war will reorient global energy flows and these stocks stand to benefit, says Bernstein

Caterpillar Inc. excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Kentucky, U.S., on Monday, Jan. 27, 2020.
Luke Sharrett | Bloomberg | Getty Images

Russia's war on Ukraine is changing the energy landscape, and as nations — especially in Europe — vow to move off the country's energy exports, new infrastructure will need to be built to make up the shortfall.

Bernstein envisions billions of dollars being spent on new facilities, which the firm said will benefit these industrial stocks.

More In Street Calls

CNBC ProBank of America upgrades BJ's to buy, says retailer will outperform in an inflationary environment
CNBC ProSell United Rentals ahead of construction slump, Bernstein says
CNBC ProHere are Thursday's biggest analyst calls: Sunrun, Zoom, Mattel, Starbucks, Bed Bath & Beyond & more