The investment bank said green hydrogen would be a 'key beneficiary' of stimulus plans on both sides of the Atlantic and benefit stocks in the sector.
Shares of Norway's Nel Hydrogen are expected to rise by more than 20% thanks to the latest set of green subsidies in both the U.S. and Europe, according to Morgan Stanley. Nel, founded in 1927, produces hydrogen using renewable energy by splitting hydrogen from water through electrolysis.
line "We think clear, supportive regulation will boost confidence in the likelihood of the growth hydrogen opportunity materialising, impacting valuation on hydrogen names," said analysts led by Arthur Sitbon in a note to clients on Feb. 7. Apart from the sectoral tailwinds, Nel shares also benefit from being one of the few listed green hydrogen companies, said the analysts. That means a lack of choice will force investors to buy Nel to gain exposure to the sector.
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