Energy stocks marched higher on Monday morning as the ongoing economic recovery fuels investor interest in the space, and multiple Wall Street analysts and strategists says there's more upside ahead.

"Within Value, we also want to highlight Energy as an area that we believe has staying power and should continue to be a key beneficiary of the commodity bull cycle," Dubravko Lakos, head of U.S. equity strategist and global quantitative research at JPMorgan, wrote in a note to clients Monday.