12 Best Hydrogen and Fuel Cell Stocks to Buy for 2025

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9. Cummins Inc. (NYSE:CMI)

Number of Hedge Fund Holders: 35

Cummins Inc. (NYSE:CMI) is a U.S.-based company specializing in the design, manufacturing, and servicing of diesel and natural gas engines, electric and hybrid powertrains, and related components. Its diverse portfolio also includes advanced electrified power systems featuring battery technology, fuel cells, and hydrogen production solutions.

JPMorgan recently upgraded Cummins Inc. (NYSE:CMI) from Underweight to Neutral, raising the price target to $420 from $355. This shift reflects a positive outlook on the company’s sales growth potential, particularly in the Distribution and Power Systems segments. Analysts project earnings per share of $22.96 for December 2025, representing a 12% year-over-year increase, with EPS forecasted to grow to $27 in December 2026, an 18% rise year-over-year.

Cummins Inc. (NYSE:CMI) showcased robust financial performance in Q3 2024, reporting steady sales of $8.5 billion and an EBITDA increase to $1.4 billion, with margins improving from 14.6% to 16.4%. The company also achieved key milestones, including the launch of full production for its X15N natural gas engine and the opening of an electrolyzer manufacturing plant in Spain to support hydrogen initiatives.

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