Plug Power Inc (PLUG) In Pursuit Of $20 Billion Forklift Market

Experts on Fox Business News discussed Plug Power Inc (NASDAQ:PLUG), focusing on how the company stands to gain from the aggressive push for the adoption of alternative energy. The company makes fuel cell systems that have wide retail and industrial application.

 logoPlugPower-1

FBN’s Charles Payne, Penn Financial Group founder Matt McCall and Hitha Prabhakar, a retail analyst, weighed in on Plug Power Inc (NASDAQ:PLUG) .

According to Mr. Payne, the future of Plug Power is bright because of the potential in the adoption of alternative energy. He remarked, “There is a lot of action in the fuel space again,” adding that, “Industries and governments continue to be big pushers behind alternative energy sources.”

Focusing on the future of fuel cells as an alternative energy, Mr. Payne recalled the announcement from China this week that the government would require at least 30 percent of its new vehicle purchases to be new-energy vehicles by 2017. China uses the term “new-energy vehicles” to refer to fuel cell, hybrids and electric vehicles like those produced by Tesla Motors Inc (NASDAQ:TSLA).

Mr. Payne went on to state that: “Plug Power produces range-extenders for electrical vehicles.”

He noted that that was one of the big things for the company in that increase in the number of electric vehicles feeds its revenue.

To strengthen his argument that Plug Power Inc (NASDAQ:PLUG) was well-placed as a stock to jolt an investor’s portfolio, Mr. Payne discussed the positive recommendation that the stock earned from a prominent Wall Street rating firm. FBR Capital Markets gave the stock an Outperform rating and issued $8 price target.

On his part, Mr. McCall noted that Plug Power Inc (NASDAQ:PLUG) was already doing well in the forklift battery market. He thinks the company could generate as much as $200 million by 2017 just from forklift sales. The company already supplies battery-powered forklifts to Wal-Mart Stores Inc (NYSE:WMT). The worldwide market for forklift battery is about $20 billion, according to the experts.

Retail analyst Prabhakar concluded the discussion of Plug Power Inc (NASDAQ:PLUG) by saying that she likes the fundamentals in the stock.


Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!