While I Won't Touch Plug Power Stock, Here's an Emerging Hydrogen Stock I'd Buy Hand Over Fist
Plug Power (NASDAQ: PLUG) is one of the more popular stocks in the energy sector. The main draw is the company's ambitious plans to become a leader in producing green hydrogen. The emission-free fuel could be a game-changer for the environment and economy, making it a potential major growth driver for Plug Power.
However, given its financial issues, I am concerned about Plug Power's ability to deliver on its immense promise. Because of that, I won't touch its stock. On the other hand, I'm very intrigued by hydrogen's potential. That's why I'm looking for companies that could benefit from that sector's growth. One intriguing emerging hydrogen stock is Brookfield Renewable (NYSE: BEPC)(NYSE: BEP). Here's why I'd buy shares hand over fist.
Plug Power has grand ambitions. The company is investing heavily in building a complete hydrogen ecosystem, including production, transportation, storage, and distribution systems. These investments grew its revenue to $1.2 billion last year. Plug expects its revenue to reach $6 billion by 2027 and $20 billion by 2030. That's an astounding 50% compound annual growth rate from last year's level.
Source Fool.com
Brookfield Corp. Aktie
Einige Buy-Einschätzungen bei Brookfield Corp. überwiegen die Sell-Einschätzungen leicht.
Dadurch ergibt sich bei einem Kursziel von 42 € ein leicht positives Potenzial von 1.69% im Vergleich zum aktuellen Kurs von 41.3 € bei Brookfield Corp..
