Hydrogen stocks could offer some of the most explosive opportunities on the new year.
We know with new hydrogen tax credits. We know that hydrogen fuel is gaining a good deal of interest from truckers. We also know that believe hydrogen could create a potential $11 trillion market opportunity. In short, there’s a big opportunity here.
While you won’t get rich overnight with hydrogen stocks, you can set yourself up for potential riches down the road. You can do that by simply buying, holding, and forgetting you own some of the top names, including the three hydrogen stocks below.
Chart Industries (GTLS)
The last time I mentioned Chart Industries (NYSE:GTLS), it traded at $132.65 on December 5. Today, it’s up to $134.34. While that’s nothing to write home about just yet, give it some time. Eventually, I’d like to see this liquid hydrogen storage stock run back to $165 a share, with patience. Helping, for about $67,222.
Also, while earnings haven’t been so hot, that weakness has been priced in. In its most recent quarter, the company missed earnings and revenues. EPS of $1.28 missed by 23 cents. Revenue of $897.9 million, which was up about 10% year-over-year, missed expectations by $132.1 million. But again, most of that weakness has been priced in.
Air Products and Chemicals (APD)
I also mentioned Air Products and Chemicals (NYSE:APD) on December 5, as it traded at $265. Today, it’s up to $272.84. From here, I’d like to see it initially refill its bearish gap around $295.
As I noted at the time, “As we wait for the recovery, we can collect its yield of 2.59%. Also, on November 8, CEO Seifi Ghasemi at $252.34. Days later, he bought for an overall spend of about $5.4 million.”
I’m still bullish on APD because of those catalysts. Helping, Citi analysts just raised their price target on APD to $320 from $295, with a buy rating.
Bloom Energy (BE)
On October 24, I mentioned Bloom Energy (NYSE:BE) as an opportunity, as it traded at $11.45. After testing a high of $15.73, it now trades at $14.88.
From here, if BE can break above the prior resistance at $14.88, it could run back to $18, with patience. Helping, recently raised their price target to $20 from $19, with an overweight rating. also initiated a buy rating on the BE stock, with a $15 price target.
, “The company will benefit from spending initiatives associated with the Inflation Reduction Act. These will provide additional tailwinds that should drive adoption of Bloom products and help it lower manufacturing costs.”
On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
