BMO Capital Initiates Plug Power With Market Perform Rating, Sees 17.5% Upside - Plug Power (NASDAQ:PLUG)

BMO Capital analyst Ameet Thakkar initiated Plug Power Inc (NASDAQ:PLUG) with a Market Perform rating and a price target of $30, implying an upside of 17.5%.
Thakkar mentions Plug is "strategically expanding its success in material handling to pave the way" for the hydrogen economy.
The analyst says the company offers exposure to the energy transition outside of wind/solar. However, Thakkar takes a "wait and see approach" to hydrogen and says that green hydrogen prices "must come down meaningfully."
Also read: Plug Power's stock climbs as Tesla, FuelCell Energy push the EV Sector.
Price Action: PLUG shares are trading higher by 0.67% at $25.71 during the premarket session on Friday.

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