This market penetration rate is slightly lower than predictions made earlier in the year, especially as the 2023 EV share in China is now forecast to be 33%, down from 35% previously. EVs are therefore expected to take a higher 16% share of the global light-vehicle market this year. Meanwhile, the entire light-vehicle market, which includes passenger cars and light-commercial vehicles, is only predicted to rise by 9%. This equates to EV sales growth of 34% compared with 2022. We forecast that global EV sales, comprising battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs), will reach 14.1 million units in 2023. The opinions expressed are those of the writer, subject to the Publishing Guidelines.EVs Forecast to Account for Two Thirds of Global Light-Vehicle Sales in 2035 By Neil King, Forecasting Lead at EV-volumes On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. These factors make it a stock for investors to add to their watchlists. Sales increased 133.50% year-over-year, and its net income grew 51.5%. The company’s outlook for the future is also positive, and it’s in a financially healthy position. It’s also trading at a discount, as it’s near the 52-week low.Īlso, adding to the bullish thesis, the company secured an additional $87 million in funding. Analysts gave this stock a price target of $2.91. These plants have some niche applications in scientific and laboratory settings, but its overall addressable market is potentially massive.įurthermore, like other hydrogen stocks on this list, FCEL stock’s share is undervalued. This company produces fuel cell power plants. Due to the strong market performance, we could see a pivot back to growth, which could give rise to riskier options like BLDP stock.įuelCell Energy (NASDAQ: FCEL) is the last hydrogen stock pick. Some investors positioned their portfolios defensively this year with value stocks, bonds, gold, and the like. economy may form a rational basis for this. A bull market for the S&P 500 and a strong U.S. Also this month, Ballard said it would continue to scale production of its hydrogen solutions.Īlthough Ballard is currently unprofitable, investors seem to have regained their risk appetites. The company will supply 60 hydrogen fuel cells for First Mode’s mining trucks. Furthermore, some progress has been made in this area. With a $6.92 analyst target price and losing 36.98% of its value this past year, it may be due for a rebound.īLDP stock produces fuel cells for the transportation sector, particularly for trucks. Due to this, there’s a case that BLDP stock is undervalued. This means it could be trading at a significant discount to its intrinsic value.īallard Power Systems (NASDAQ: BLDP) was another one of those hydrogen stock picks by AI. The stock’s analyst consensus price target is $19. These significant investments underscore the rising interest in PLUG stock and its growth potential.įurthermore, there’s a final piece of the puzzle. Additionally, the Canada Pension Plan Investment Board secured over 215,200 PLUG shares. Billionaire Steve Cohen’s Point72 Asset Management snapped up 2.3 million shares, while Citadel Advisors, under billionaire Ken Griffin, purchased 4.56 million shares. Plug Power has caught the eye of leading investors. Additionally, the company boasts a solid sales growth history, with a rise of 47.60% over the previous five years. Impressively, PLUG stock’s EPS is set to climb by 65.10% in the next year. The choice of Plug Power’s shares hinges on its strong revenue and earnings growth, factors likely to enhance its valuation. Source: Wirestock Creators / ĪI’s top investment pick is Plug Power (NASDAQ: PLUG), a company specializing in fuel cell solutions for various hydrogen and electric motors.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |