13 Best Hydrogen and Fuel Cell Stocks to Buy According to Analysts

3. Hyster-Yale, Inc. (NYSE:HY)

Analysts’ Upside Potential as of June 13: 103.10%

Ted Jackson, a Northland analyst, maintained a Market Perform rating on Hyster-Yale, Inc. (NYSE:HY)’ shares and reduced the firm’s price objective from $75 to $50.

The analyst cut FY25 predictions due to tariffs and economic uncertainties, citing Hyster-Yale, Inc. (NYSE:HY)’s “mixed” Q1 compared to the consensus.

Hyster-Yale, Inc. (NYSE:HY) reported a 14% year-over-year reduction in lift truck revenues in its 2025 business update, which was made public on May 7. This decline was mostly caused by lower sales volumes in the Americas and EMEA areas. A decline in manufacturing absorption and decreased volumes caused a steep decline in adjusted operating profit.

The company’s fuel cell division, Nuvera, reported a larger operational loss both sequentially and year over year due to higher R&D costs. Pretax earnings decreased, resulting in a dip in income tax expense from $25 million to $8 million. Operating cash outflows totaled $36 million in the first quarter, compared to $22 million in inflows the previous year.

Nonetheless, inventory levels improved, declining by around $70 million annually. Strong bookings of $590 million represented both an annual and a nearly 50% sequential rise, while the backlog was stable at $1.9 billion. It is anticipated that capital expenditures in 2025 will fall between $40 million and $65 million.