GTLS - Wall Street Thinks This Hydrogen Stock Could Double or Triple And It Could Be Just The Start
2024-03-25 04:45:00 ET
The exciting energy transition market isn't just relegated to electrification. The concept of a hydrogen-fueled economy is on the rise, especially after the U.S. government awarded $7 billion in funding for seven regional hydrogen hubs across the U.S. in October of last year.
In fact, hydrogen is gaining popularity across the world, especially for industries that are hard to electrify like heavy industry or long-haul trucking. That's because hydrogen is a zero-carbon fuel that only emits water as a byproduct, and it's also a baseload fuel, which means it can be stored and transported. That's unlike solar and wind, which only produce power when the sun is shining or wind is blowing.
One company feeding the nascent hydrogen economy is equipment supplier Chart Industries (NYSE: GTLS) . And while the company had a better than-expected earnings report last month , it's received a solid string of positive news in March as well.
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Wall Street Thinks This Hydrogen Stock Could Double or Triple, And It Could Be Just The Start