Top 5 Hydrogen Stocks to Buy Now

4. Air Products and Chemicals, Inc. (NYSE:APD)

Air Products and Chemicals, Inc. (NYSE:APD) ranks among the top hydrogen stocks to buy now. On May 1, BofA Securities boosted Air Products and Chemicals, Inc. (NYSE:APD)’s price target to $305 from $303, retaining a Neutral rating on the company’s shares.

The company announced second-quarter EPS of $3.20, which exceeded BofA’s expectation of $3.04. The beat was driven by cost savings and one-time benefits in Asia linked to cash receipts from assets held pending sale.

Air Products’ third-quarter outlook is consistent with expectations. The new full-year range indicates fourth-quarter earnings of $3.40 to $3.55 per share, lower than the Street average of $3.57.

BofA expects the company to exceed the new range, owing to various levers to meet targets, though EPS may still fall short of double-digit growth.

BofA’s leading issue is the medium-term growth forecast, especially given NEOM headwinds. The firm is in agreement with management that spot market strength in ammonia is not likely to continue.

Air Products and Chemicals, Inc. (NYSE:APD) manufactures and distributes atmospheric gases. It operates in the Americas, Asia, Europe, the Middle East, India, and Corporate and Other.

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