![]() Per The Fly, here’s a rundown of some not-so-optimistic expert opinions on Plug Power:Įven though UBS analyst Manav Gupta maintained his “buy” rating on Plug Power shares, he reduced his price target from $26 to $24. Judging by some analysts’ recent downgrades and/or price target cuts, it appears that I’m not the only person who’s doubtful of Plug Power’s near-term prospects. I’m skeptical of Plug Power’s robust projections, and I have difficulty believing that PLUG stock will reach $25.10 in the next 12 months. Whether Plug Power actually achieves any of them remains to be seen. These are ambitious predictions, to say the least. How optimistic? Plug Power is targeting annual sales of $5 billion and 30% gross margin for 2026, followed by annual sales of $20 billion and 35% gross margin for 2030. On the other hand, Plug Power is highly optimistic about the company’s future prospects. This may seem hard to justify, as Plug Power has a track record of quarterly EPS misses and a rapidly dwindling position of cash and cash equivalents. Thus, if the current Plug Power share price is around $9, then evidently analysts are bracing for a 179% rally. ![]() Reportedly, based on the forecasts of 22 analysts on Wall Street, the consensus price target for PLUG stock is $25.10. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Wall Street’s Surprisingly High Price Target for PLUG Stock Then, we can consider a sensible strategy if you’re still thinking about investing in Plug Power. However, the enthusiasm has waned considerably since then.Īmid that backdrop, let’s see if we can appeal to the analysts on Wall Street for some clarity and guidance. Investors were hyped up about Plug Power in 2020 and early 2021. Plug Power is probably the most famous publicly listed pure-play fuel cell and green hydrogen company. ![]() Still, hopefully, today we can wade through the sea of opinions and come to a conclusion about Plug Power. Is Wall Street’s opinion of Plug Power (NASDAQ: PLUG) optimistic or pessimistic? There’s an odd divergence between the ambitious consensus price target on PLUG stock and the multitude of downgrades.
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