In this article, we will discuss the 5 Most Promising Hydrogen and Fuel Cell Stocks According to Analysts. For deeper discussion and analysis, read 10 Most Promising Hydrogen and Fuel Cell Stocks According to Analysts.
5. BP p.l.c. (NYSE:BP)
Upside Potential: 31.25%
Target Price: $51.19
On June 9, BP p.l.c. (NYSE:BP) announced a new organizational structure aimed at simplifying the business, enhancing operational performance, and creating greater value for shareholders. Effective July 1, 2026, the company will transition from its existing three-segment framework to two core business segments: Upstream and Downstream. The Upstream division will consolidate BP’s oil and gas exploration, development, production, upstream joint ventures, renewable natural gas, and carbon capture and storage operations, while the Downstream division will encompass refining, terminals, pipelines, mobility and convenience, biofuels, aviation, hydrogen, and Castrol. Management stated that the new structure will improve accountability, streamline operations, and enable faster and more effective decision-making across the organization.
On June 2, reports indicated that BP p.l.c. (NYSE:BP) had been engaged in advanced discussions regarding the potential sale of its UK North Sea assets to Ithaca Energy in a transaction valued at nearly £2 billion. Although negotiations reportedly stalled in recent weeks and no agreement was reached, sources familiar with the matter indicated that BP continues to evaluate strategic alternatives and may pursue similar transactions with other interested parties. The reported discussions highlight the company’s ongoing efforts to optimize its portfolio and focus capital on assets and businesses that align with its long-term strategic priorities.
BP p.l.c. (NYSE:BP) was founded in 1909, is headquartered in London, England, and operates as a global integrated energy company exploring for, refining, and marketing oil, natural gas, and petrochemicals. It develops multi-megawatt green and blue hydrogen production facilities globally to decarbonize industry and transportation.
4. Toyota Motor Corporation (NYSE:TM)
Upside Potential: 35.22%
Target Price: $235.2
On June 18, Toyota Motor Corporation (NYSE:TM) announced a safety recall affecting approximately 16,200 model year 2026 bZ and Lexus RZ vehicles in North America. According to the company, the electronic control unit responsible for managing the battery that supplies electricity to the drivetrain may experience an error that could cause the electric drive system to shut down. While power steering and power-assisted braking remain functional, the issue could result in a loss of motive power at higher speeds, increasing the risk of an accident. Toyota stated that dealers will update the battery ECU software free of charge, and affected owners will be notified beginning in mid-August.
On June 2, Toyota Motor Corporation (NYSE:TM) reported U.S. vehicle sales of 238,800 units for May, representing a modest decline of 0.6% compared to the prior-year period, according to Bloomberg. Despite the slight decrease, the results reflect the company’s continued ability to maintain substantial sales volumes in one of the world’s largest automotive markets amid an evolving industry environment and shifting consumer demand trends.
Incorporated in 1937 and headquartered in Toyota City, Japan, Toyota Motor Corporation (NYSE:TM) designs and manufactures vehicles under brands like Toyota, Lexus, and Hino. It heavily invests in zero-emission fuel cell electric vehicles (like the Mirai) and scalable fuel-cell power modules for heavy trucks, marine, and stationary applications.
3. Olin Corporation (NYSE:OLN)
Upside Potential: 35.67%
Target Price: $29.86
On June 18, JPMorgan lowered its price target on Olin Corporation (NYSE:OLN) to $25 from $26 while maintaining a Neutral rating on the shares. The adjustment reflects the firm’s updated outlook on the company and broader market conditions, though the continued Neutral rating suggests that JPMorgan sees Olin as relatively fairly valued at current levels. Analyst coverage remains focused on the company’s ability to navigate cyclical demand trends and execute on strategic initiatives within its chemicals portfolio.
On June 16, Olin Corporation (NYSE:OLN) and Huntsman Corporation announced that they had entered into a definitive agreement to combine in an all-stock merger of equals. The transaction is expected to generate more than $400 million in identified cost synergies and integration benefits, creating a larger and more diversified chemicals company to be known as OlinHuntsman. Under the terms of the agreement, Olin shareholders will own approximately 54.5% of the combined entity, while Huntsman shareholders will own approximately 45.5%. The merger has received unanimous approval from both companies’ boards and is expected to close in the first half of 2027, subject to customary regulatory and shareholder approvals.
Founded in 1892 and headquartered in Clayton, Missouri, Olin Corporation (NYSE:OLN) is a global manufacturer of chemicals (like chlor-alkali and epoxy) and Winchester ammunition. It functions as a key hydrogen and fuel cell stock by supplying massive volumes of byproduct hydrogen to the green energy sector, notably via its Hidrogenii joint venture with Plug Power.
2. Westlake Corporation (NYSE:WLK)
Upside Potential: 41.46%
Target Price: $113.56
On June 5, UBS analyst Joshua Spector lowered the firm’s price target on Westlake Corporation (NYSE:WLK) to $117 from $130 while maintaining a Buy rating on the shares. The analyst updated estimates to reflect a lower anticipated peak in petrochemical pricing during the second quarter and now expects pricing conditions to begin moderating in the third quarter before gradually normalizing through 2027. Despite the reduced target, UBS’s continued Buy rating reflects confidence in Westlake’s long-term fundamentals and ability to navigate changing market conditions.
On May 18, JPMorgan analyst Jeffrey Zekauskas upgraded Westlake Corporation (NYSE:WLK) to Neutral from Underweight while maintaining a $90 price target. The analyst noted that the shares are now trading closer to fair value and highlighted expectations that the company could generate free cash flow equivalent to approximately 3% of its market value in 2026 and 8% in 2027. JPMorgan also pointed to recent strength in polyethylene pricing, while expressing caution regarding the sustainability of certain price increases relative to export market dynamics.
Founded in 1986 and headquartered in Houston, Texas, Westlake Corporation (NYSE:WLK) is a global manufacturer of petrochemicals, polymers, and building products. It is tied to the hydrogen sector through its subsidiary, Westlake Epoxy, which produces specialized resins and materials essential for the structural composites used in hydrogen storage.
1. Westport Fuel Systems Inc. (NASDAQ:WPRT)
Upside Potential: 118.58%
Target Price: $4.94
On June 18, Westport Fuel Systems Inc. (NASDAQ:WPRT) announced that Cespira, its joint venture with Volvo Group, has signed a development agreement with Volvo to complete the integration and commercialization of Cespira’s High Pressure Direct Injection (HPDI) fuel system technology for Volvo’s 13-litre hydrogen-powered engine platform. Volvo Trucks is already conducting on-road testing of the technology, with a European-certified commercial launch targeted before 2030. Cespira’s HPDI system enables the direct injection of hydrogen at high pressures into internal combustion engines, providing diesel-like performance while utilizing a zero-carbon fuel source. The agreement represents a significant milestone in advancing hydrogen-powered heavy-duty transportation.
On May 14, Westport Fuel Systems Inc. (NASDAQ:WPRT) reported first-quarter revenue of $2.29 million, exceeding analyst expectations of $2.2 million. Management highlighted continued momentum within the Cespira joint venture, which generated a 33% year-over-year increase in revenue driven by additional volumes supplied to a second original equipment manufacturer for truck trials. The company also noted that favorable liquefied natural gas pricing dynamics across Europe and other key markets are supporting stronger demand trends, creating a solid foundation for continued growth throughout 2026. Management emphasized that increasing market adoption of Cespira’s HPDI technology is becoming an increasingly meaningful contributor to overall financial performance.
Founded in 1995 and headquartered in Vancouver, Canada, Westport Fuel Systems Inc. (NASDAQ:WPRT) engineers, manufactures, and supplies advanced alternative fuel components and systems for the transportation industry. It acts as a hydrogen and fuel cell stock by designing high-pressure hardware, valves, and hydrogen-capable direct-injection systems that allow vehicles to operate on clean hydrogen.
While we acknowledge the potential of WPRT as the most promising hydrogen and fuel cell stock, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WPRT and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 10 Most Overvalued Quantum Computing Stocks According to Short Sellers and 7 Best Longevity and Anti-Aging Stocks to Buy.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
