3 Hydrogen Stocks to Buy on the Dip: May 2024

Core Viewpoint - The current crisis in the hydrogen sector may present investment opportunities, particularly as the market awaits clarity on the 45V tax credits and potential interest rate cuts from the Federal Reserve [1][2]. Hydrogen Stocks Analysis Linde (LIN) - Linde is currently priced at $432.42, considered an oversold bargain, with potential to fill bearish gaps at $440 and $460 [4]. - Analysts have raised Linde's price target to $512 by Mizuho and $510 by BMO Capital, citing strong free cash flow and expected double-digit EPS growth [5]. Bloom Energy (BE) - Bloom Energy has shown strong market interest, recently rising from $9 to $11.31, with a potential to retest $15 if it breaks resistance at $12.50 [7]. - The company has secured an agreement with Intel for additional capacity in energy cell-based servers, targeting the growing data center market driven by artificial intelligence [9]. Direxion Hydrogen ETF (HJEN) - The Direxion Hydrogen ETF was previously trading at $10.80 and is seen as a solid opportunity at a dip back to $11.48, offering exposure to about 30 hydrogen stocks [11][12].