Plug Power's Stock Surges as European Delivery Looms, Analysts Raise Targets
Plug Power's business is booming, with the first delivery to a European partner on the horizon. The company's production facilities in Georgia are nearing full capacity, indicating increased activity. This positive news has been reflected in the stock market, with Plug Power's shares rising significantly.
Analysts are taking notice of Plug Power's progress. Eric Stine from Craig-Hallum has set a target price of $4 for the company's stock, doubling his previous estimate due to operational advancements and strategic shifts documented in late September. Another analyst has also raised their target price, from $3 to $7, demonstrating growing confidence in the company.
On Monday, Plug Power's stock price increased by 5.3%, pushing it above $4 on the Nasdaq, equivalent to around €3.41 in Germany. This rise follows a significant surge of over 61% in the past five days. Despite these gains, the company is expected to report a net loss of around $500 million on revenue of about $710 million this year.
Plug Power's imminent European delivery and increased production activity signal a robust business. Analysts' bullish price targets and the stock's recent surge reflect investor confidence. Despite an expected net loss, the company's revenue and progress indicate a promising future.
Read also:
- U.S. CBP's Operation Plaza Spike Boosts Fentanyl Seizures Along Arizona-Mexico Border
- Regensburg Court Sentences Pizza Delivery Owner for Illegal Employment, Tax Evasion
- Tesla's EV Market Share Plummets in Europe, US Competition Intensifies
- Catastrophe at a U.S. Steel facility in Pennsylvania results in the loss of two lives. crucial details unveiled
