5 Most Promising Hydrogen and Fuel Cell Stocks According to Analysts

In this article, we will look at the 5 most promising hydrogen and fuel cell stocks to buy now according to analysts. If you want to explore similar stocks, you can go to 10 Most Promising Hydrogen and Fuel Cell Stocks According to Analysts.

5. Air Products & Chemicals, Inc. (NYSE:APD)

Number of Hedge Fund Holders: 43

Average Upside Potential as of February 10: 14.07%

Air Products & Chemicals, Inc. (NYSE:APD) is a leading global provider of atmospheric gases, process and specialty gases, and related services. The company has a presence in the Americas, Asia, Europe, the Middle East, and India. The company is one of the world’s foremost suppliers of hydrogen, operating over one hundred hydrogen plants one of the world’s most extensive hydrogen distribution networks.

On February 2, BMO Capital analyst John McNulty revised his price target on Air Products & Chemicals, Inc. (NYSE:APD) to $386 from $394 and maintained an Outperform rating on the shares. Air Products & Chemicals, Inc. (NYSE:APD) is one of analysts’ most promising hydrogen and fuel cell stocks to buy now.

Over the past 3 months, Air Products & Chemicals, Inc. (NYSE:APD) has received 5 Buy ratings and 7 Hold ratings from Wall Street analysts. The stock has a consensus Buy rating and an average price target of $328.33. The stock’s average price target implies an upside of 14.07% from current levels. As of February 10, the stock is trading at $287.82 per share.

At the end of Q3 2022, 43 hedge funds were long Air Products & Chemicals, Inc. (NYSE:APD) and disclosed positions worth $394.2 million. As of December 31, Quaero Capital is the top investor in the company and has a position worth $3.88 million.

Here is what Matrix Asset Advisors had to say about Air Products and Chemicals, Inc. (NYSE:APD) in its third-quarter 2022 investor letter:

“During the quarter, we started a new position in Air Products and Chemicals, Inc. (NYSE:APD) for accounts with cash to invest. Air Products & Chemicals is a leading global industrial gas company with very stable returns. The company provides industrial gas in bulk liquid and compressed gas forms as well as via onsite dedicated facilities. Because many of its contracts are long-term, the business is less cyclical than many industrial companies while benefiting during economic upswings. Air Products is a leader in hydrogen fueling systems and infrastructure, and the company sees great potential to extend its leadership in the years ahead. APD consistently returns capital to its shareholders through share repurchases and by steadily increasing its dividend. Its current annual dividend of $6.48 per share provides a 2.8% yield on September 30.”