5 Best American Energy Stocks to Buy According to Wall Street Analysts

3. Hallador Energy Company (NASDAQ:HNRG

Upside Potential as of April 10: 77.63%

Hallador Energy Company (NASDAQ:HNRG) operates as an independent power producer and fuel company in the United States. It operates in two segments, Electric Operations and Coal Operations.

Hallador Energy Company (NASDAQ:HNRG) received a boost on March 26 when Jefferies upgraded the stock from ‘Hold’ to ‘Buy’, while also bumping its price target from $17.50 to $22.50. The raised target reflects an upside of 48% from the current levels.

The upgrade comes after Hallador Energy Company (NASDAQ:HNRG) locked in capacity hedges at approximately $470/MW-day for two years, meaningfully exceeding its latest print of $230/MW-day. Moreover, the company ‘curiously’ only hedged through the summer of 2028, specifically leaving open the fall of 2028 for any presumed capacity offtake by hyperscalers.

As a result, Jefferies analyst Julien Dumoulin-Smith upped his forecasts for the company’s 2028 EBITDA and free cash flow by 14% and 22%, respectively, significantly exceeding consensus. The analyst now values Hallador’s base business excluding data center and gas deals at $15.5/share, up 11% from his previous estimate.