AFC Energy's agreement to supply S-Series fuel cell stack modules to Niftylift should lead to more, similar agreements in the future, says broker Peel Hunt.
Product categories such as outdoor lighting rigs, cranes, and other non-road mobile machinery all look like potential uses for the stacks, it adds.
Stating it expects the Niftylift agreement to impact revenue forecasts positively from 2025 onwards, “We are currently reviewing our projections and plan to update our forecasts shortly," said the broker
Buy with a 125p target price remains the broker’s target, with the shares up 4.5% at 21.3p.