- Piper Sandler analyst Pearce Hammond upgraded Plug Power Inc PLUG to Overweight from Neutral with an unchanged price target of $33, implying an upside of 22.6%.
- Hammond mentions the recent pullback in the shares offers an attractive entry point as the company has "tremendous forward momentum" on its green hydrogen plans as well as electrolyzer sales.
- The analyst believes the upcoming analyst day should be a positive catalyst for the stock.
- Recently, the company announced expanding its green hydrogen ecosystem to the west coast with the construction of a new state-of-the-art production facility in Fresno County, California.
- Related Content: Plug Power To Build Hydrogen Production Facility In California: What You Need To Know.
- Price Action: PLUG shares are trading higher by 5.13% at $28.3 during the premarket session on Thursday.
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PLUGPlug Power Inc
$1.09-1.80%
Edge Rankings
Momentum
6.32
Growth
15.87
Quality
Not Available
Value
78.12
Price Trend
Short
Medium
Long
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