The risks to his recommendation and target price include weaker-than-expected new construction markets in the U.S. and China, higher-than-expected costs for raw materials and energy, and higher spending on new-product rollouts.

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The inclusion of food production also points to a broadening of the definition of green tech, which in the past referred more narrowly to technologies such as those for renewable electricity and biofuel production, electric car development and new materials and services that help consumers and businesses use energy more efficiently.

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