Plug Power (PLUG) Price Target Raised Following Better-than-Expected Q1

Plug Power Inc. (NASDAQ:PLUG) is included among the 10 Best Clean Energy Stocks to Buy Right Now.

Plug Power (PLUG) Price Target Raised Following Better-than-Expected Q1

Plug Power Inc. (NASDAQ:PLUG) is a global leader in hydrogen fuel-supply solutions and in hydrogen applications for material handling, power generation, and e-mobility.

On May 12, B. Riley boosted its price target on Plug Power Inc. (NASDAQ:PLUG) from $4 to $5, while maintaining a ‘Buy’ rating on the shares. The revised target reflects an upside of more than 27% from the current levels.

The move comes after Plug Power Inc. (NASDAQ:PLUG)’s revenue comfortably beat Wall Street estimates in its Q1 2026 report on May 11. Gross margin also improved substantially YoY, increasing from -55% to -13%, supported by the cost-cutting measures under the company’s “Project Quantum Leap” initiative.

Moreover, Plug Power Inc. (NASDAQ:PLUG) is forecasting a 13% to 15% sales growth for full-year 2026, while the margin rate is also expected to continue to improve sequentially. The company also hinted toward positive EBITDAS in Q4, supported by the stronger second-half seasonality, tighter operational discipline, and expected proceeds from planned asset monetization.

While we acknowledge the risk and potential of PLUG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PLUG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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